By Brad Lamensdorf of Active Alts Recently, SPACs, or the Special Purpose Acquisition Company segment of the stock market has grabbed a lot of attention from the media and investing public. The popularity of SPACs has transcended traditional operators and extended into hedge funds, sport stars, movie stars, and even civil rights activists, seeking to stake their claim to an ever-growing piece of the SPAC pie. Whenever a corner of the stock market captures the public’s attention to such a…
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Steelman Partners and Gensler designing 75 hectare resort near Angkor Wat NagaCorp has announced that it has signed a 50 year lease with the Cambodian government for a 75 hectare (187.5 acre) property near the UNESCO World Heritage site of Angkor Wat. The company plans on building a fully integrated resort, Angkor Lake of Wonder (ALOW), which will include hotels, a waterpark, indoor theme parks, a water cruise attraction, meeting facilities, cultural attractions, and food streets. Steelman Partners and Gensler have been brought on…
Aboitiz Power Corporation, through its subsidiary AP Renewables Incorporated (APRI), will be supplying the renewable energy (RE) needs of Wells Fargo International Solutions LLC in the Philippines. In a statement on Monday, March 1, Aboitiz Power said it will deliver about 7,500 megawatt-hours of RE to Wells Fargo’s Taguig City facility, which is equivalent to 65% of the latter’s electricity needs. AP Renewables will supply 65% of Wells Fargo’s electricity needs in the Philippines. Read more: https://www.rappler.com/business/aboitiz-power-supply-renewable-energy-wells-fargo-taguig-city
Fintech companies in Asia Pacific attracted USD11.6 billion across 565 deals from venture capital, private equity and M&A in 2020, compared to USD 16.8 billion in 2019, reaching a six-year low, as the pandemic saw a decline in investment into emerging markets like Southeast Asia, particularly in the second half of the year. Global fintech funding was USD105 billion in 2020, the third highest fintech investment on record despite a significant drop compared to USD165 billion in 2019, according to KPMG’s Pulse of Fintech H2′20 report. Read more… Full report available here…
PBEC Corporate Member Top Glove plans to raise USD2.55 Billion MYR in Hong Kong to fund expansion and bolster its profile with overseas investors. The company, whose shares are traded in Kuala Lumpur and Singapore, plans to issue up to 1.49 billion shares at a price to be set at a later date, according to an exchange filing on Friday. At US$1 billion-plus, Top Glove’s listing would be the biggest ever by a Malaysian company in Hong Kong, according to…
Click here to download the slide deck What are the priorities to ensure the region’s fast, sustainable and inclusive economic recovery from the crisis? Explore PBEC’s partner OECD’s latest and upcoming work in the region on competition, investment, SMEs and much more. Fostering Competition in ASEAN Efficient logistics can play a significant role in increasing a country’s economic development by facilitating international trade and improving its competitiveness. The Fostering Competition in ASEAN project reviews regulatory constraints on competition in all…
Issue:003 WTO APPOINTS NEW DIRECTOR-GENERAL: Ngozi Okonjo-Iweala has this week become the first woman and the first African to lead the World Trade Organization. Her appointment was ratified by the WTO General Council. She will take up the global trade role on March 1. Her term will expire in August 2025. AUSTRALIAN INQUIRY DELAYED: Australia has delayed for a 3rd time its reporting dates for a dumping and subsidy inquiry into precision pipe and tube steel from China, Korea, Taiwan…
PBEC CEO Michael Walsh will join high-ranking government officials, corporate chiefs and well-known entrepreneurs from China and Southeast Asia On February 25-26th. This two-day virtual conference will discuss issues including – China’s 14th five-year plan, US-China economic decoupling, maritime diplomacy, business travel and tourism, strategies to reopening economies, women & youth issues, digital health and much more. The conference is free to to register for PBEC members. Link to register: https://onair1c.eventsair.com/scmp-event/ccsea/Site/Register Panel: Taking flight: What does it take to revive…
Issue:002 ANZAC TRADE MINISTERS TO TALK: Australia & New Zealand Trade Ministers Tehan and O’Connor are to have their first bilateral talks this week. It follows contentious comments by NZ’s O’Connor on how Australia could repair its trade relations with China. Tehan told the ABC he was grateful O’Connor had called him to clarify the comments. UK ASKS TO JOIN PACIFIC FTA: The UK requested on Monday 1st Feb 2021 to join the Trans-Pacific Partnership (CPTPP). It will be the…
PBEC round up of key discussions around supply chains at the World Economic Forum’s (WEF) virtual annual meeting in Davos, Switzerland. Addressing supply chain fragility The global landscape has become fragile and industries have adapted in response. Frans van Houten, CEO at the electronics firm Royal Philips, called for increased preparedness, data transparency, and coordinated efforts between public and private sectors for future pandemics. Among key lessons learnt from the crisis was the need to ensure supply requirements can be met,…