Asia Pacific

Headlines

NIO unveils production vehicle for China Market

NIO unveiled new production vehicle, the NIO ES8, a 7-seater high-performance electric SUV for the China market - NIO ES8’s official launch will take place at the end of this year, with deliveries expected to begin next year - NIO to begin taking pre-orders of its flagship supercar, the NIO EP9, priced at 1.48 million USD - 11 Cars: NIO showcased...

X-ELIO closes the financing process for two new photovoltaic plants in Japan

The group achieves the necessary funds for the start-up of two new solar parks in Japan: Tsurusu and Shiroishi.Both PV power stations will be located at Miyagi Prefecture. Tsurusu Park will have a capacity of 38 MW and Shiroishi will reach 28 MW.The plants are expected to start producing energy in the second half of 2018.With both parks, the X-ELIO...

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’...

Finance

Race-based affirmative action is failing poor Malaysians

THERE is something odd about MARA Digital, a cluster of stalls selling laptops, mobiles and other gizmos on the second floor of a shopping centre in Kuala Lumpur, Malaysia’s multicultural capital. No ethnic-Chinese or -Indian entrepreneurs are allowed to do business here. Spots in the market are reserved for Malays, the country’s majority race....

Thailand’s junta intensifies its hunt for critics of the monarchy

THE only historical record of Queen Chammathewi, the legendary founder of the Thai city of Lamphun, comes from a fanciful 15th-century chronicle written on palm leaves in an ancient liturgical language. It describes how, some time in the seventh century, she came to a spot that the Buddha had supposedly visited centuries before. With the help of...

Taking on Taiwan’s ruinous and partisan pension system

Retired but not retiring THE protests outside parliament got so ferocious that the 2,000 policemen defending the building barricaded it with barbed wire. That was soon festooned with angry placards. Inside, opposition politicians sought to disrupt parliamentary business: they seized the podium, and brawls broke out. In Taiwan, as everywhere else,...

Australians debate how to avoid shark attacks

Duh-dah, duh-dah, duh-dah MANY Australians dislike their country’s reputation as a hotbed of deadly creatures, but it is a brave surfer who has never felt a prickle of anxiety at what lurks beneath the surf. Laeticia Brouwer, a teenager who was recently killed by a shark in Western Australia, was the state’s third such fatality in under a year,...

As crime dries up, Japan’s police hunt for things to do

THE stake-out lasted a week, but it paid off in the end. The tireless police of Kagoshima, a sleepy city in the far south of the country, watched the unlocked car day and night. It was parked outside a supermarket, and contained a case of malt beer. Finally, a passing middle-aged man decided to help himself. Five policemen instantly pounced, nabbing...

Legal

Low earners suffer wage suppression as companies plug pensions deficits

A new study into pensions deficit payments (32-page / 340KB PDF) by the Resolution Foundation said DB deficit payments were “directly lowering employee pay by between £1.4 billion and £2.2bn a year”.The study identified a sharp increase since 2000 in the share of 'non-wage' elements in employee compensation, including payments into pension schemes....

British Airways loses challenge against pensions payments

Pensions litigation expert Hayley Goldstone of Pinsent Masons, the law firm behind Out-Law.com, said the decision would remind trustees of the importance of honestly and accurately recording their decisions to stave off future challenges.The airline brought the case after the trustees of the Airways Pension Scheme (APS) changed the scheme's rules to...

Ofcom outlines 'text-to-switch' plans for mobile market

Ofcom said the 'text-to-switch' plans would apply to both consumer and business customers of mobile providers. A consultation on the proposals (117-page / 1.81MB PDF) is open until 30 June. "In this consultation, we are proposing a mobile switching process which would remove the need for consumers to speak to their old provider," Ofcom said. "It would...

Conservatives promises 'digital charter' for the UK

In its election manifesto, the party said the UK needs a "rules-based framework in which … new technologies can create prosperity and growth". "A Conservative government will develop a digital charter, working with industry and charities to establish a new framework that balances freedom with protection for users, and offers opportunities alongside...

Conservative shale gas pledge could kickstart investment, says expert

The Conservative manifesto (88-page / 328KB PDF) released last week promised that should the party be re-elected following the 8 June general election, it would develop the shale industry in the UK.The manifesto said because shale gas was cleaner than coal it could reduce carbon emissions and “play a crucial role in rebalancing our economy”.The...

Deals

Japan dominates Asia-Pacific outbound M&A for Q1

Japan’s continued hunt for growth pushed it to the top of the Asia-Pacific region for outbound deal value during the first quarter of 2017, knocking China from its top spot as Chinese buyers face their own regulatory and political challenges, experts say. The first quarter of the year saw Japanese buyers ink $14.72 billion in transaction value...

Chinese capital constraints send shock through global M&A

Outbound deals hit lowest level since 2014 after cash clampdown For months, Chinese conglomerate Fujian Thai Hot has been on the cusp of completing a $1.4bn buyout of a Hong Kong-based life insurer.There has been just one problem: the cash needed to pay for the deal has been stuck inside China, awaiting a final regulatory sign-off from the country’s...

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...

Acq Lite

Chrissy Teigen skips Billboard Music Awards for 'Magic Mike Live'

May 22 (UPI) -- Model and television personality Chrissy Teigen skipped the 2017 Billboard Music Awards for Magic Mike Live.The 31-year-old Lip Sync Battle host missed husband John Legend's performance at the awards show Sunday in Las Vegas because she was seeing the Magic Mike-inspired show."And it. Was dope," she tweeted of the experience.Teigen had...

Naomi Watts: 'I'm doing okay' after Liev Schreiber split

May 22 (UPI) --Naomi Watts is "doing okay" in the wake of her split from Liev Schreiber.The 48-year-old British actress said in the June issue of Vogue Australia that she's had "good days and bad days" since calling it quits with the 49-year-old American actor."I mean, I'm single. I'm co-parenting. I'm doing okay," Watts said before sharing she's been...

Nicki Minaj donates money to village in India, shares progress on Instagram

May 22 (UPI) --Nicki Minaj has shared on Instagram how she helped a struggling village in India improve through money she has donated over the years."This is the kind of thing that makes me feel the most proud. The money I've sent to this village in India for the last couple years [via my Pastor Lydia Sloley], has gotten them a Computer Center, a Tailoring...

Pamela Anderson surprises with understated look at Cannes

May 22 (UPI) --Pamela Anderson surprised fans by wearing an understated look on the red carpet Saturday.The 49-year-old actress traded sexy for sophisticated at the 2017 Cannes International Film Festival premiere of 120 battements par minute (120 Beats Per Minute) in Cannes, France.Anderson turned heads in an elegant Vivienne Westwood gown with a ruched...

Tom Holland cast as Nathan Drake in 'Uncharted' video game adaptation

May 22 (UPI) --Tom Holland has signed on to portray treasure hunter Nathan Drake in Sony's long in development video game adaptation of Uncharted.Holland will be headlining the project as a younger Nathan Drake as the film is being reworked to explore of the early years of his career before the start of the popular Playstation video game series, Deadline...