e-ConomySEA 2024 report: Malaysia’s digital economy to hit US bil in 2024

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On:
In: Technology
  • Online travel led sector growth with a 19 % increase, reaching US$ 8B GMV
  • E-commerce, M’sia’s leading online source grew 17 % to US$ 16B GMV in 2024

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

Malaysia’s digital economy is set to reach US$ 31 billion ( RM138.48 billion ) in Gross Merchandise Value ( GMV) in 2024, marking a 16 % increase from 2023, according to the latest e-Conomy SEA 2024 report by Google, Temasek, and Bain &amp, Company.

Good growth patterns in all electronic sector are present.

Malaysia’s online business continues its development towards success while sustaining double-digit GMV development. The report shows deeper online membership, successful crowdfunding strategies, and healing in pandemic-impacted sectors as key drivers of this growth.

    Ecommerce: E-commerce remains the largest contributor to Malaysia’s digital economy, growing by 17 % to US$ 16 billion ( RM71 billion ) GMV in 2024. This development is attributed to the rising fad of picture commerce and the reinvestment of large platforms.

  • Online travel: Posting the fastest GMV growth among sectors, online travel expanded by 19 % year-on-year to US$ 8 billion ( RM36 billion ) GMV. In 2024, Malaysia’s strong growth in worldwide tourism is anticipated to exceed pre-pandemic levels. Spending on international travel has increased 330 % since 2020, with the Asia-Pacific place accounting for 38 % of outgoing expenses. Visitors from Southeast Asia ( SEA ) represent nearly half ( 49 % ) of Malaysia’s inbound travel spend, driven by enhanced air connectivity, strategic airline partnerships, and favourable exchange rates.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

]RM1 = US$ 0.22]

    Food delivery and carry: These sectors grew by 10 % from US$ 3 billion GMV in 2023 to US$ 4 billion in 2024, bolstered by recovering passenger demand and international travel. Ride-hailing sees increased competition with new participants and expanded services, while structured shipping options and membership plans are increasing revenue on meals delivery platforms.

  • The growth of Malaysia’s online media industry has been consistent, with its GMV projected to increase 10 % from$ 3 billion in 2023 to$ 4 billion in 2024, as a result of the growing demand for digital content, video games, and streaming services.
  • As a number of Malaysia’s online banks provide powerful features and are simple to accessibility, contributing to the rapid expansion of the DFS landscape, online financial services is on a roll. Digital wealth is expected to grow significantly, reaching an assets under management ( AUM) of about$ 80 billion by 2030, while digital payments are anticipated to increase by 5 % from 2023 to$ 172 billion by 2024.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

Malaysia to capture the AI option

Artificial Intelligence ( AI ) is reshaping Malaysia’s digital economy. The government’s commitment to responsible AI development through the Malaysia AI Roadmap 2021-2025 and the upcoming launch of the National AI Office ( NAIO ) underpins this transformation. The report identifies Malaysia as one of the top ten states globally for AI research interest, especially in training, advertising, and entertainment, with Kuala Lumpur, Putrajaya, and Selangor leading the way.e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

The demand for AI infrastructure may increase as more businesses use it to develop, increase efficiencies, and enhance customer experiences as well as to create new concepts. Malaysia invested$ 15 billion in AI network in H1 ’24 to meet this demand. According to the report, Malaysia’s existing data center capacity is 120MW, and it anticipates an increase of 5X over the next few years.

Malaysia has seized the AI possiblity thanks to strategic activities like KL20, which will support Malaysia’s startup habitat by promoting high-tech industries, obtaining tax exemptions for foreign investments, and providing$ 1 billion in federal funding for startups in Malaysia and the location.

We want to get a local hero for modern policies that are forward-thinking and transformative, encourage a regulatory environment that encourages scientific advancement, and foster cross-border collaboration as Malaysia assumes the Asean Chairmanship next year. The e-Conomy report serves as a powerful affirmation of our efforts and is not just a report, it is a testament to Malaysia’s enormous potential, according to Gobind Singh Deo, minister of digital, who was represented by Fabian Bigar, minister of digital, at the event.

” It is a call to action for all of us – the government, the private sector, and the people of Malaysia to collaborate and realise our nation’s full digital potential. Let us seize this opportunity and together, build a digitally empowered Malaysia that is prosperous, inclusive, and sustainable”, he added.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024Meanwhile, Farhan Qureshi ( pic ), country director for Google Malaysia said:” We have been seeing a consistent strong growth of Malaysia’s digital economy and this year is another strong testament of the potential of Malaysia’s digital economy. With the region’s focus on AI, it’s encouraging to see the country’s leaders are putting AI and semiconductors in the country’s priority list”.

By empowering the local workforce with AI-ready skills and tools, we at Google are committed to further supporting Malaysia’s digital economy’s growth. We are committed to keeping Malaysia at the forefront of the digital age, he added, from funding scholarships for young people to develop AI-ready skills through Google Career Certificate scholarships to deploying Google Workspace for public officers.

Amanda Chin, partner, Bain &amp, Company, noted:” Southeast Asia’s digital economy thrives on double-digit GMV and revenue growth and a surge in profitability across sectors led by key players. Likewise in Malaysia, we see a healthy digital economy driven by e-commerce, online travel and digital financial services”.

” As the country’s DFS sector embraces digital disruption, new technologies such as AI are poised to accelerate growth. Businesses must move beyond experimentation and invest in fundamental elements in order to align AI initiatives with core business objectives to address real-world issues and create tangible value, strengthen AI talent, and create scalable, adaptable infrastructure for sustained growth, she added.

Geia Lopez, head of data, insights, and international growth at Google Southeast Asia, added:” Investments in AI and the growing interest in its applications signal a bright future for Malaysia’s digital economy. To maintain this momentum and foster trust in the changing digital landscape, it is important to prioritize digital security, though.

Click here to download the report.

Continue Reading

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US billion in 2024

By:
On:
In: Technology
  • Online travel led sector growth with a 19 % increase, reaching US$ 8B GMV
  • E-commerce, M’sia’s leading online source grew 17 % to US$ 16B GMV in 2024

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

Malaysia’s digital economy is set to reach US$ 31 billion ( RM138 billion ) in Gross Merchandise Value ( GMV) in 2024, marking a 16 % increase from 2023, according to the latest e-Conomy SEA 2024 report by Google, Temasek, and Bain &amp, Company.

Good growth patterns in all modern sector are present.

Malaysia’s online business continues its development towards success while sustaining double-digit GMV development. The report shows deeper online membership, successful crowdfunding strategies, and healing in pandemic-impacted sectors as key drivers of this growth.

    Ecommerce: E-commerce remains the largest contributor to Malaysia’s digital economy, growing by 17 % to US$ 16 billion ( RM71 billion ) GMV in 2024. This development is attributed to the rising fad of video commerce and the reinvestment of large platforms.

  • Online travel: Posting the fastest GMV growth among sectors, online travel expanded by 19 % year-on-year to US$ 8 billion ( RM36 billion ) GMV. In 2024, Malaysia’s strong growth in global tourism is anticipated to exceed pre-pandemic levels. Spending on international travel has increased 330 % since 2020, with the Asia-Pacific place accounting for 38 % of outgoing expenses. Visitors from Southeast Asia ( SEA ) represent nearly half ( 49 % ) of Malaysia’s inbound travel spend, driven by enhanced air connectivity, strategic airline partnerships, and favourable exchange rates.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

]RM1 = US$ 0.22]

    Food delivery and carry: These sectors grew by 10 % from US$ 3 billion GMV in 2023 to US$ 4 billion in 2024, bolstered by recovering passenger demand and international travel. Ride-hailing sees increased competition with new participants and expanded services, while layered shipping options and membership plans are increasing revenue on meal delivery platforms.

  • The growth of Malaysia’s online media industry has been consistent, with its GMV projected to increase 10 % from$ 3 billion in 2023 to$ 4 billion in 2024, as a result of the growing demand for digital content, video games, and streaming services.
  • As a number of Malaysia’s online banks provide powerful features and are simple to accessibility, contributing to the rapid expansion of the DFS landscape, online financial services is on a roll. Digital wealth is expected to grow significantly, reaching an assets under management ( AUM) of about$ 80 billion by 2030, while digital payments are anticipated to increase by 5 % from 2023 to$ 172 billion by 2024.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

Malaysia to capture the AI option

Artificial Intelligence ( AI ) is reshaping Malaysia’s digital economy. The government’s commitment to responsible AI development through the Malaysia AI Roadmap 2021-2025 and the upcoming launch of the National AI Office ( NAIO ) underpins this transformation. The report identifies Malaysia as one of the top ten states globally for AI research interest, especially in training, advertising, and entertainment, with Kuala Lumpur, Putrajaya, and Selangor leading the way.e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

The demand for AI infrastructure may increase as more businesses use it to develop, increase efficiencies, and enhance customer experiences as well as to create new concepts. Malaysia invested$ 15 billion in AI network in H1 ’24 to meet this demand. According to the report, Malaysia’s existing data center ability is 120MW, and it anticipates an increase of 5X over the next few years.

Malaysia has seized the AI possiblity thanks to strategic activities like KL20, which will support Malaysia’s startup habitat by promoting high-tech industries, obtaining tax exemptions for foreign investments, and providing$ 1 billion in federal funding for startups in Malaysia and the location.

We want to get a local hero for modern policies that are forward-thinking and transformative, encourage a regulatory environment that encourages scientific advancement, and foster cross-border collaboration as Malaysia assumes the Asean Chairmanship next year. The e-Conomy report serves as a powerful affirmation of our efforts and is not just a report, it is a testament to Malaysia’s enormous potential, according to Gobind Singh Deo, minister of digital, who was represented by Fabian Bigar, minister of digital, at the event.

” It is a call to action for all of us – the government, the private sector, and the people of Malaysia to collaborate and realise our nation’s full digital potential. Let us seize this opportunity and together, build a digitally empowered Malaysia that is prosperous, inclusive, and sustainable”, he added.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024Meanwhile, Farhan Qureshi ( pic ), country director for Google Malaysia said:” We have been seeing a consistent strong growth of Malaysia’s digital economy and this year is another strong testament of the potential of Malaysia’s digital economy. With the region’s focus on AI, it’s encouraging to see the country’s leaders are putting AI and semiconductors in the country’s priority list”.

By empowering the local workforce with AI-ready skills and tools, we at Google are committed to further supporting Malaysia’s digital economy’s growth. We are committed to keeping Malaysia at the forefront of the digital age, he added, from funding scholarships for young people to develop AI-ready skills through Google Career Certificate scholarships to deploying Google Workspace for public officers.

Amanda Chin, partner, Bain &amp, Company, noted:” Southeast Asia’s digital economy thrives on double-digit GMV and revenue growth and a surge in profitability across sectors led by key players. Likewise in Malaysia, we see a healthy digital economy driven by e-commerce, online travel and digital financial services”.

” As the country’s DFS sector embraces digital disruption, new technologies such as AI are poised to accelerate growth. Businesses must move beyond experimentation and invest in fundamental elements in order to align AI initiatives with core business objectives to address real-world issues and create tangible value, strengthen AI talent, and create scalable, adaptable infrastructure for sustained growth, she added.

Geia Lopez, head of data, insights, and international growth at Google Southeast Asia, added:” Investments in AI and the growing interest in its applications signal a bright future for Malaysia’s digital economy. To maintain this momentum and foster trust in the changing digital landscape, it is important to prioritize digital security, though.

Click here to download the report.

Continue Reading

FinanceAsia Achievement Awards 2024: Apac’s best deals revealed | FinanceAsia

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On:
In: Asia, Finance, South-East Asia

Excellence in Asia’s financial markets is recognized annually with our Success Awards. Our Achievement Awards, which span two crucial categories– Package Awards and House Awards– emphasize the achievements of key players in the Asia-Pacific and Middle East who have demonstrated dedication to their industry.

We’re pleased to announce that the judging process for this year’s awards has now come to an end after receiving almost 1, 000 submissions from our Advisory Board of external specialists and the help of our editorial staff.

Please consider below a list of this week’s victors of the&nbsp, Deal Awards- Apac&nbsp, type.

The logic behind success collection will get published in our upcoming&nbsp, FinanceAsia reports. It is not a comprehensive list because we have listed the participants who participated based on research and awards entries. Please call the&nbsp, FinanceAsia group if you have any concerns. &nbsp,

North Asia = Japan, South Korea, Taiwan&nbsp,

South Asia = India, Pakistan, Bangladesh, Sri Lanka

Southeast Asia = Indonesia, Malaysia, Philippines, Thailand, Vietnam

 

&gt, BEST BOND DEALS &lt,

AUSTRALIA / NEW ZEALAND

CSL Financial’s$ 1.25 billion dual-tranche 144A/Reg S top giving

Members: Citi, Bank of America, JP Morgan, HSBC

Highly commended: AOFM’s invitational$ 7 billion efficient government bond

Members: &nbsp, Commonwealth Bank of Australia, Deutsche Bank, National Australia Bank, UBS, Australia Branch, Westpac Banking Corporation

Chinese- Abroad

3-year, responsible dim-sum bond issued by Jingzhou Municipal Urban Development Holding Group

Members: &nbsp, Bank of China, Caitong International, Industrial Securities, CSC Financial, CITIC Securities, CMB Wing Lung Bank, CMBC Capital, CNCB Investment, Guolian Securities, Guoyuan International, Haitong International, ICBC International, Shanghai Pudong Development Bank, Shenwan Hongyuan Securities, SPDB International, TF worldwide, CICC

Chinese- Inland

National Bank of Canada’s Rmb5 billion 2-year tiger relationship release

Members: Standard Chartered, Deutsche Bank, DBS, CITIC Securities, CMB Securities

Highly commended: China Baowu Steel Group’s Rmb10 billion business relationship release

Members: CITIC Securities, Guotai Junan Securities, Shenwan Hongyuan Securities, CICC

&nbsp, HONG KONG Radar / APAC

HKSAR’s USD&amp, EUR&amp, CNH multi-currency natural tie giving

Members: Crédit Agricole, HSBC, Citi, JP Morgan, BNP Paribas, BofA, Morgan Stanley, UBS, Mizuho, Bank of China Hong Kong, ICBC Asia, Bank of Communications, Standard Chartered

Highly commended: ILBS 2 by Bauhinia

Members: Hong Kong Mortgage Corporation, CICC, ING Bank, MUFG, Natixis, Standard Chartered

NORTH ASIA

LG Electronic’s$ 500 million 144A/Reg S 3-year and$ 300 million 5-year two round

Members: BNP Paribas, Citi, HSBC, JP Morgan, Korea Development Bank, Standard Chartered

SINGAPORE

Exams ‘$ 500 million unprotected fixed rate documents due 2029

Members: DBS, BNP Paribas, MUFG, OCBC, HSBC

Highly commended: Yinson Production’s$ 500 million older secured 5-year relationship release

Members: Standard Chartered, Holman Fenwick Willan, Stephenson Harwood, collaboration of 13 loans

SOUTH ASIA

Kashf’s PKR2.5 billion female connection release

Members: Infra Zamin Pakistan, Arif Habib, Pakistan Credit Rating Agency, Vellani &amp, Vellani, Pak Brunei Investment Company, Bank Alfalah, Bank of Pubjab, Standard Chartered Pakistan

SOUTHEAST ASIA

SOUTHEAST ASIA/ PHILIPPINES

Maynilad Water Services PHP15 billion orange ties

Members: BPI Capital, BDO Capital &amp, Investment, First Metro Investment, East West Banking

&nbsp, MALAYSIA / HIGHLY COMMENDED ( SOUTHEAST ASIA)

Asean Green moderate term papers under RM500 million Exio Logistics clean centers

Members: Hong Leong Investment Bank

HIGHLY RECOMMENDED ( SOUTHEAST ASIA) THAILAND

Minor International’s THB billion securities via private location

Members: Standard Chartered, Bangkok Bank, Bank of Ayudhya Public Company, Kasikornbank, Krungthai Bank, Kiatnakin Phatra Securities, The Siam Commercial Bank

INDONESIA

Republic of Indonesia$ 2.05 billion international bond giving

Participants: ANZ, BofA Securities, Deutsche Bank ( Singapore ), Morgan Stanley, UBS ( Singapore ), BRI Danereksa Sekuritas, Trimegah Sekuritas Indonesia, Mayer Brown

VIETNAM

Hai An Transport and Stevedoring JSC’s VND500 billion foldable relationship

Members: SSI Securities

 

&gt, BEST EQUITY DEALS &lt,

AUSTRALIA / NEW ZEALAND

A$ 1.435 billion block trade in Worley

Members: Citi, Goldman Sachs, Allens

Highly commended: Treasury Wine Estate’s A$ 825 million Paitreo to support get DAOU Vineyards

Members: UBS, Macquarie Capital

Chinese- Abroad / APAC

Alibaba’s$ 5 billion convertible bond &nbsp,$ 1.2 billion parallel stock purchase

Members: Citi, JP Morgan, Morgan Stanley, Barclays, HSBC

Highly commended: &nbsp, Lotus Tech’s company mixture with L Catterton, people listing in the US through a De-SPAC design, approximately$ 880 million of personal investment in public equity funding and convertible information

Members: Han Kun Law, Skadden, Kirkland &amp, Ellis, Fangda Partners&nbsp,

Chinese- Inland 

Sinopec’s A-share personal position

Members: CICC, Guangfa Securities, CITIC Securities

HONG KONG Radar

Zhejiang Expressway’s HK$ 6.7 billion &nbsp, right issue

Members: BNP Paribas, DBS, CLSA, CICC, Zheshang International

Alibaba’s$ 5 billion convertible bond $ 1.2 billion parallel share buyback

 

Members: Citi, JP Morgan, Morgan Stanley, Barclays, HSBC

SINGAPORE

Personal position and preferred giving for CapitaLand Integrated Commercial REIT for S$ 1.1 billion

Members: United Overseas Bank, JP Morgan, Venture Law, Allen &amp, Gledhill

Highly commended: Reverse&nbsp, takover of 3Cnergy by DTP Inter Holdings Corporation for a consideration of approximately S$ 443.8 million &nbsp,

Members: PrimePartners Corporation Finance, Allen &amp, Gledhill LLP

SOUTH ASIA

JSW Energy’s$ 600 million qualified administrative position

Members: Jefferies India, Khaitan &amp, Co, Shardul Amarchand Mangaldas &amp, Co

Highly commended: &nbsp, Vodafone Idea’s$ 2.15 billion follow-on open offering of capital stock

Members: Axis Capital, Jefferies, SBI Capital, Sidley Austin, Cyril Amarchand Mangaldas &amp, Co, AZB &amp, Lovers

SOUTHEAST ASIA

Bursa Malaysia Offering for Johor Plantations Group

Members: RHB Investment Bank, AmInvestment Bank, CIMB Investment Bank, CLSA Singapore, CLSA Securities Malaysia, Affin Hwang Investment Bank

Highly commended: &nbsp, San Miguel Corporation’s PHP34 billion preferred shares&nbsp,

Members: &nbsp, SB Capital, Bank of Commerce, BDO Capital &amp, Investment, China Bank Capital, Asia United Bank, Bank of Commerce, BPI Capital, Land Bank of the Philippines, PNB Capital and Investment, RCBC Capital, Union Bank of the Philippines

 

&gt, BEST INFRASTRUCTURE DEALS &lt,

AUSTRALIA / NEW ZEALAND

Blackstone’s merger of Airtrunk

Members: Deutsche Bank, Morgan Stanley, RCBC Capital Markets, Macquarie Capital, Goldman Sachs

Highly commended: Contact Energy’s suggested merger of Manawa Energy

Members: UBS New Zealand, Cameron Partners/Rothschild &amp, Co, Lazard Australia, Bell Gully, Harmos Horton Lusk

Chinese- Inland

CAMC-China Resources TBEA Renewable Energy’s Closed-end Infrastructure Securities Investment Fund

Members: CITIC Securities, China Asset Management, Agricultural Bank of China, Zhong Lun Law Firm

HONG KONG Radar

ILBS 2 by Bauhinia

Members: CICC, ING Bank, MUFG, Natixis, Standard Chartered

SINGAPORE / APAC

Yinson Boronia Movie’s annual project relationship with a$ 1.035 billion Top Secured Notes expected 2042

Members: Santander, Citi, Norton Rose Fulrbright, Cescon Barrieu

Highly commended: Stonepeak’s very structured preferred corporate investment into AGP Sustainable Real Assets

Members: Sidley Austin, Clifford Chance, King &amp, Wood Mallesons, Shardul Amarchand Mangaldas &amp, Co, NautaDutilh, Burness Paull, WongPartnership, Setterwalls Advokatbyra&nbsp,

SOUTH ASIA

AdaniConneX’s$ 1.44 billion Sustainability-Linked Project Finance for an under-construction information centre investment in India

Members: ING Bank, Intesa Sanpaolo, KfW IPEX, MUFG, Natixis, Standard Chartered, Societe Generale, SMBC

SOUTHEAST ASIA

SOUTHEAST ASIA/ INDONESIA

ADIA and APG’s acquisition of a 53.5 % stake in Rafflesia Investasi&nbsp,

Members: Rothschild &amp, Co

&nbsp, PHILIPPINES / HIGHLY COMMENDED ( SOUTHEAST ASIA)

New NAIA Infrastructure Corporation’s PHP80 billion syndicated name loan service

Participants: Bank of Commerce, BDO Capital &amp, Investment, Asia United Bank, China Bank Capital, SB Capital Investment, BDO Unibank, China Banking, Development Bank of the Philippines, Security Bank

MALAYSIA

Worldwide Holdings ‘ RM999 million syndicated clean leasing facility

Members: Maybank Investment Bank

VIETNAM

Petrovietnam Power’s XNhon Trach 3&amp, 4 Energy Flower

Members: Citi, ING

 

&gt, BEST Offering &lt,

Chinese- Abroad

J&amp, T Express ‘$ 500 million identifying on HKEX

Participants: CICC, Morgan Stanley, Bank of America Securities, UBS AG ( HK), CCB International Capital, CMB International Capital, Huatai Financial, BOCI Asia, ABCI Capital

Chinese- Inland 

Grandtop Yongxing’s Rmb2.43 billion Offering

Members: CITIC Securities, Guotai Junan Securities

HONG KONG Radar /APAC

Super Hi’s double list on Nasdaq

Members: Kirkland &amp, Ellis, Skadden, Arendt, Loyens, Freshfields, Linklaters and Fried Frank, White &amp, Event

Highly commended: &nbsp, QuantumPharm’s identifying on HKEX

Members: CLSA, CITIC Securities, CICC, Jefferies, Deutsche Bank, CMB International, Sidley Austin, Fangda Partners, Herbert Smith Freehills, JunHe, PwC

NORTH ASIA

Kokusai Electric ‘s&nbsp, ¥124.5 billion ($ 831.7 million ) &nbsp, listing on Tokyo Stock Exchange

Participants: KKR ( GP), Mitsubishi UFJ Securities

SOUTH ASIA

NRB Bank’s BDT1 billion naming in Bangladesh

Members: UCB Investment, Shahjalal Equity Management

Highly commended: OLA Electronic’s list in India

Members: Kotak Mahindra Capital, Citi, BofA Securities, Goldman Sachs, Axis Capital, ICICI Securities, SBI Capital Markets, BOB Capital Markets

SOUTHEAST ASIA

Speed Mart Retail Holdings RM13.9 billion Investor on Bursa Malaysia

Members: CIMB, Affin Hwang Investment Bank, RHB Investment Bank, Lee Choon Wan &amp, Co

Highlgy commended: Johor Plantations Group’s RM735 million Offering on Bursa Malaysia

Members: RHB Investment Bank, Latham &amp, Watkins, AmInvestment Bank, CIMBC Investment Bank, CLSA Singapore, CLSA Securities Malaysia, Affin Hwang Investment Bank

 

&gt, BEST ISLAMIC FINANCE DEALS &lt,

SINGAPORE

Wealthy Pink’s S$ 2.7 billion normal expression product and Muslim Murabahah features

Members: DBS Bank, Malayan Banking Singapore branch, Sumitomo Mitsui Banking Corporation Singapore branch, United Overseas Bank ( UOB), Allen &amp, Gledhill

SOUTH ASIA

Islamic Bank Bangladesh ‘s&nbsp, BDT8 billion Mudaraba convertible, non-convertible, unsecured subordinated bond

Members: UCB Investment

SOUTHEAST ASIA

SOUTHEAST ASIA/ APAC / INDONESIA

Republic of Indonesia’s$ 2.35 billion 144A sukuk offering

Members: MUFG, Citi, Dubai Islamic Bank, HSBC, Mandiri Securities, BRI Danareksa Sekurta, PR Trimegah Sekuritas Indonesia

Extremely RECOMMENDED ( SOUTHEAST ASIA)/ MALAYSIA

Gold Formula ABS’s sukuk, up to RM94.81 million in differenent tranches

Members: New Paradigm Securities, Silver Formula Capital, Public Investment Bank, Adnan Sundra &amp, Low

PHILIPPINES

Republic of Philippines ‘ Sukuk Trust’s$ 1 billion issuing

Members: Citi, Deutsche Bank, Dubai Islamic Bank, HSBC, MUFG, Standard Chartered

 

&gt, BEST M&amp, A DEALS &lt,

AUSTRALIA / NEW ZEALAND / APAC

Obayashi Corporation acquires 50 % of Eastland Generation for a$ 503 million implied business benefit.

Members: Forsyth Barr, Chapman Tripp

Highly commended: PSP Consortium’s A$ 2.5 billion merger of Costa Group

Members: Citi, JP Morgan, Allen &amp, Gledhill, Kirkland &amp, Ellis

Chinese- Abroad

Grifols ‘ Sale of 20 % stake in Shanghai RAAS to Haier for$ 1.8 billion

Members: Nomura Securties, CICC, Osborne Clarke, JunHe, Clifford Chance, King &amp, Wood Mallesons

Highly commended: &nbsp, Royal Golden Eagle’s CNH15 billion syndicated payment for the acquisition of Vinda International Holdings

Participants: Bank of China Macau, BNP Paribas, CICC, Linklaters

Chinese- Inland 

$ 8.3 billion sale of 60 % stake in Zhuhai Wanda to PAG-led consortium

Members: Deutsche Bank

Highly commended: &nbsp, NISCO merger by CITIC Pacific&nbsp,

Members: CITIC Securities

HONG KONG Radar

Asia Pacific Resources International’s HK$ 21.6 billion volunteer public present for Vinda International Holdings

Members: HSBC, Norton Rose Fulbright, Bank of America, BNP Paribas, CICC

Highly commended: &nbsp, HKT price of 40 % stake in its silent community resources to China Merchants Capital

Members: Deutsche Bank, Clifford Chance

NORTH ASIA

Renesas Electronics ‘ 100 % merger of Altium

Members: &nbsp, Deutsche Bank, JP Morgan, King &amp, Wood Mallesons, Reed Smith, DLA Piper, Covington &amp, Burling, Nagashima Ohno &amp, Tsunematsu&nbsp,

Highly commended: &nbsp, WT Microelectronics ‘$ 3.8 billion merger of Future Electronics&nbsp,

Members: &nbsp, Citi, Canaccord Genuity Corp., Skadden, Arps, Slate, Meagher &amp, Flom, Osler, Hoskin &amp, Harcourt, Tsar &amp, Tsai Law Firm, Mintz, Levin, Cohn, Ferris, Glocsky and Popeo, P. C.

SINGAPORE

Purchase of Eu Yan Sang to a consortium led by Mitsui & Co. and Rohto Pharmaceutical

Members: Deutsche Bank, UBS, Wong Partnership

SOUTH ASIA

MHIL’s consolidation of Sahara Hospital

Members: Standard Chartered

Highly commended: &nbsp, Acquisition by Saudi Aramco Oil Company of a 40 % stake in Gas and Oil Pakistan&nbsp,

Members: Standard Chartered

SOUTHEAST ASIA

SOUTHEAST ASIA/ THAILAND

Acquisition of 65.99 % shares in Esso ( Thailand ) Public Company by Bangchak Corporation Public Company

Members: Kiatnakin Phatra Securities, JP Morgan, DLA Piper

Highly commended: ThaiBev return from home business via promote transfer

Members: DBS, WongPartnership

INDONESIA 

&nbsp, Medco Energi Internasional’s$ 713 million acquisition of a 20 % interest in each of Block 60 and Block 48

Members: Standard Chartered

MALAYSIA 

Purchase of Ramsay Sime Darby Health CA by Columbia Asset Healthcate and Sime Darby Healthcare

Members: Deutsche Bank

PHILIPPINES 

Merger between Robinsons Bank and Bank of the Philippine Islands

Members: BPI Corporation

VIETNAM

Thomson Medical Group’s merger of FV Hospital

Members: Maybank Investment Bank

 

&gt, BEST PRIVATE EQUITY DEALS &lt,

AUSTRALIA / NEW ZEALAND / APAC

Blackstone’s merger of Airtrunk

 Members: Deutsche Bank, Morgan Stanley, RCBC Capital Markets, Macquarie Capital, Goldman Sachs

Chinese- Abroad

Carlyle on sales of curiosity in McDonald’s China to McDonald’s Company

Members: &nbsp, Kirkland &amp, Ellis, JunHe, Jones Day

Highly commended: &nbsp, Advent International’s acquisition of a 29 % interest in Seek Pet Food

Participants: Boyu Capital ( investor )

HONG KONG Radar

PAG’s$ 8.3 billion Joint Investment in Newland Commercial Management

Members: Simpson Thacher &amp, Bartlett, A&amp, O Shearman

NORTH ASIA

Carlyle Group’s merger of KFC Holdings Japan

Members: Kirkland &amp, Ellis, Nishimura &amp, Asahi, Linklaters, Mori Hamada &amp, Matsumoto, Nagashima Ohno &amp, Tsunematsu&nbsp,

Highly commended: &nbsp, Blackstone’s sales of Geo-Young to MBK lovers

Members: &nbsp, Deutsche Bank, Morgan Stanley, Goldman Sachs, Samsung Securities, K&amp, C Cleary Gottlieb, Steen &amp, Hamilton LLP, Ropes &amp, Gray

SOUTH ASIA

ani’s Ispahani’s acquisition of a small interest in Tampaco Sheets

Members: UCB Investment, Farooq & Associates

SOUTHEAST ASIA

Asia Pacific Education Holdings ‘ sale of the APIIT Education Group to TPG’s The Rise Funds ( stake sold by KV Asia Capital )

Members: Rahmat Lim &amp, Partners, &nbsp,

Highly commended: BlackRock’s Climate Finance Partnership’s funding in Ditrolic Energy

Members: Clifford Chance

 

&gt, BEST PROJECT FINANCE DEALS &lt,

AUSTRALIA / NEW ZEALAND

MREH’s A$ 400 million debt funding

Members: &nbsp, Société Générale, Westpac, Standard Chartered, Export Development Canada, White &amp, Case, Ashurst

Chinese- Inland 

CSPC’s$ 5.5 billion term loan and a$ 450 million working capital facility

Members: CNOOC Finance Corporation, Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Zhong Lun Law Company

NORTH ASIA

&nbsp, ARE’s 20-year c. TWD8.25 billion job financing

Members: CTBC Bank, MUFG, E. SUN Bank, SMBC, Standard Chartered, KGI

SINGAPORE / APAC

BIC V investment size of approximately$ 508.3 million

Members: Citi, Standard Chartered, MUFG, Natixis, Overseas-Chinese Banking Corporation, &nbsp, Société Générale

SOUTH ASIA

Serentica’s venture funding of 200 MW RTC

Members: Société Générale, Cooperative Rabobank U. A., Export-Import Bank of India, India Infrastructure Finance Company, MUFG, YES Bank, KKR, Twinstar Overseas, Dentons, Luthra &amp, Luthra, Norton Rose Fulbright

SOUTHEAST ASIA

SOUTHEAST ASIA/ INDONESIA

Climmangis Citibung Tollways CDS hospital

Members: Indonesia Infrastructure Fund, BNI, &nbsp, Siahaan Indarmis, Andarumi &amp, Partners

Extremely RECOMMENDED ( SOUTHEAST ASIA)/ MALAYSIA

World Holdings ‘ spare to power project

Participants: Bank

HIGHLY RECOMMENDED ( SOUTHEAST ASIA ) PHILIPPINES

AltEnergy’s PHP8 billion top safe word product

Members: BPI Capital, Security Bank

VIETNAM 

Petrovietnam Power Company’s Nohn Trach 3&amp, 4 Energy Flower

Members: Citi, ING

 

&gt, BEST PROPERTY DEALS &lt,

AUSTRALIA / NEW ZEALAND

Blackstone’s merger of Airtrunk

Members: Deutsche Bank, Morgan Stanley, RCBC Capital Markets, Macquarie Capital, Goldman Sachs

Chinese- Abroad

Bain Capital’s$ 250 million cooperative venture with DNE for China New Economy Network

Participants ( legal advisors ): Kirkland &amp, Ellis, King &amp, Wood Mallesons&nbsp,

Chinese- Inland

Link REIT’s acquisition of China Vanke’s 50 % stake in Link Plaza Qibao

Participants ( legal advisors ): Zhong Lun Law Firm, Cushman &amp, Wakefield

HONG KONG Radar

HK$ 14.438 billion sustainability-linked syndicated term and revolving loan facilities for 16 borrowers, sponsored by Gateway Real Estate Fund V L. P., Gateway V Co-Investment ( Doris ), L. P. (” Gaw” ), Great Wall Pan Asia Holdings Limited (” Great Wall” ) and GLQ Broad Street Holdings Ltd

Members: ANZ, Standard Chartered, UOB

SINGAPORE

Supreme JV Holding Pte Ltd | Lendlease &amp, Warburg Pincus ‘ S$ 1.065 billion top secured term loan and lender ensure features

Members: DBS, HSBC, UOB

Highly commended: &nbsp, Digital Core REIT’s$ 120 million personal location

Members: DBS, Citi, Bank of America, BNP Paribas, OCBC, UOB

SOUTHEAST ASIA

 SOUTHEAST ASIA/ APAC / THAILAND

 ThaiBev’s exit from the property business via a share swap with its parent for majority ownership in F&N

Members: DBS

&nbsp, INDONESIA / HIGHLY COMMENDED ( SOUTHEAST ASIA )

PT Putragaya Wahana has a top secured alternative payment service worth IDR 3.7 trillion and a term loan facility.

Participants: UOB

MALAYSIA

ESIM Capital’s green SRI sukuk

Participants: New Paradigm, UOB ( Malaysia )

PHILIPPINES

Vista Land’s$ 300million 9.375 % senior unsecured fixed rate notes due 2029

Members: DBS, HSBC, Union Bank of the Philippines

 

&gt, BEST STRUCTURED FINANCE DEAL &lt,

Chinese- Abroad

The acquisition of Hollysys Automation Technologies Ltd. by Ascendent Capital Partners&nbsp,

Participants: Industrial Bank HK

Chinese- Inland 

CMB Financial Leasing Co., Ltd’s ( CMBFL ) Rmb1.6 billion Sustainable Development Loan&nbsp,

Participants: MUFG, SMBC, Fubon, Bank of China, Bank of Shanghai

Highly commended: &nbsp, Xinyue’s Rmb600 million Micro Business Loan ABN from Qifu Technology,

Participants: HSBC

HONG KONG Radar / APAC

ILBS 2 by Bauhinia

Members: CICC, ING Bank, MUFG, Natixis, Standard Chartered

Highly commended: The acquisition of Hollysys Automation Technologies Ltd. by Ascendent Capital Partners&nbsp,

Participants: Industrial Bank HK

NORTH ASIA

WT Microelectronics and Morrihan International Corp’s$ 3.8 billion Bridge Facility

Participants: Citi

Highly commended: &nbsp, Korean Airline’s$ 208 million-equivalent Samurai Sustainability-Linked Loan

Participants: MUFG, SMBC

SINGAPORE

CIS ‘ Senior Secured S$ 300 million Bridge S$ 280 million Take Out Term Loan Facility

Members: DBS, Deutsche Bank, UOB KayHian

Highly commended: &nbsp, The government of Singapore’s S$ 2.5 billion green bonds

Members: DBS, Deutsche Bank, UOB KayHian

SOUTH ASIA

Fund raise of Rs4.65 billion ($ 56 million ) for Aliens Developers Private Ltd&nbsp,

Participants: Azalea Capital Partners

SOUTHEAST ASIA&nbsp,

Ayala Land’s PHP6 billion Asean sustainability linked bond

Participants: BDO Capital, BPI Capital, China Bank Capital, Land Bank of the Phiippines, SB Capital, RCBC Capital )

Highly commended: &nbsp, Exsim Capital Resources ‘ tranche 5 Asean green SRI sukuk

Participants: New Paradigm

 

&gt, BEST SUSTAINABLE FINANCE DEALS &lt,

AUSTRALIA / NEW ZEALAND

Cromwell Property Group’s A$ 1.2 billion Green and Sustainability-Linked Loan&nbsp,

Participants: ANZ, Bank of China Sydney, Clean Energy Finance Corporation, CBA, Credit Agricole, ING Bank, NAB, Societe Generale

Highly commended: &nbsp, MCP Wholesale Investment Trust’s A$ 500 million Sustainability-Linked Revolving Credit Facility

Members: Standard Chartered

Chinese- Abroad

Bank of China’s CNH and USD multi-tranche BRI-partner sustainability notes

Participants: HSBC

Highly commended: &nbsp, China Construction Bank Financial Leasing’s$ 150 million Long Term Transition Shipping Finance

Members: Standard Chartered

HONG KONG Radar

West Kowloon Cultural District Authority’s HK$ 5 billion sustainability-linked term and revolving facilities

Members: Standard Chartered

NORTH ASIA

Posco’s$ 500 million 3-year Green 144A/Reg S senior unsecured bond

Participants: HSBC

Highly commended: Far Eastern New Century’s NTD2.5 billion Corporate Sustainable Exchangeable Bond

Participants: KGI Securities, SinoPac Bank, Oriental Securities

SINGAPORE

Impact Investment Exchange’s$ 88 million 4-year Women’s Livelihood Bond

Participants: ANZ, Standard Chartered

Highly commended: EJA’s$ 500 million Revolving Credit Facility

Members: Standard Chartered

SOUTH ASIA

AdaniConneX’s$ 875 million syndicated sustainability-linked loan

Members: ING Bank, Intesa Sanpaolo, KfW IPEX, MUFG, Natixis, Standard Chartered, Societe Generale, SMBC

Highly commended: Kashf’s PKR2.5 billion female connection release

Participants: &nbsp, Infra Zamin Pakistan, Arif Habib, Pakistan Credit Rating Agency, Vellani &amp, Vellani, Pak Brunei Investment Company, Bank Alfalah, Bank of Pubjab, Standard Chartered Pakistan

 SOUTHEAST ASIA/ APAC / MALAYSIA

Exism Capital Resources ‘ special purpose funding vehicle ( RM3 billion )

Participants: NewParadigm Securities, United Overseas Bank ( UOB ) Malaysia, Adnan Sundra &amp, Lo

HIGHLY RECOMMENDED ( SOUTHEAST ASIA ) PHILIPPINES

partnership between Rizal Commercial Banking and Citicore Renewable Energy Corporation ( CREC )

Participants: Rizal Commercial Banking

INDONESIA 

Republic of Indonesia$ 2 billion dual-tranche trust certificates

Participants: CIMB, Citigroup Global Markets, Dubai Islamic Bank, Mandiri Securities, Standard Chartered, White &amp, Case, Trimegah Sekuritas, BRI Danareksa Sekuritas, Thamrin &amp, Rekan

THAILAND 

Thai Union Group’s Thb11.5 billion sustainability-linked loan

Participants: MUFG

 

&gt, BEST SYNDICATED LOAN DEALS &lt,

AUSTRALIA / NEW ZEALAND

Orora’s acquisition of Saverglass SAS

Participants: AFRY Capital, Citi, Macquarie Capital

Highly commended: &nbsp, Viva Energy A$ 1 billion Term Loan Facilities

Members: DBS, ANZ, Mizuho, MUFG, NAB, UOB, WBC, plus consortium of 22 lenders

Chinese- Abroad

Royal Golden Eagle’s CNH15 billion syndicated loan for the acquisition of Vinda International Holdings

Participants: Bank of China Macau Branch, BNP Paribas, CICC, Linklaters

Highly commended: Kuaishou’s 3-year CNH9 billion syndicated term loan facility

Participants: China Merchants Bank, Pudong Development Bank, CITIC Bank, Industrial Bank, Ping An Bank, HSBC China, Minsheng Bank, Bank of Beijing, Hang Seng Bank, Bank of Faba-Pakistan China, Standard Chartered China, Jiangsu Bank

HONG KONG Radar

United Asia Finance’s HK$ 3.9 million syndicated term loan and revolving credit facility

Members: Standard Chartered, China Zheshang Bank, KGI Bank, Bank Singpac, Nanyang Commercial Bank

Highly commended: &nbsp, ICBCIL Finance Company Limited’s$ 1 billion term loan facility

Participants: Industrial and Commercial Bank of China ( Asia ), Agricultural Bank of China Hong Kong, OCBC, Ping An Bank, Nanyang Commercial Bank, China Guangfa Bank, Bank of Communications, China CITIC Bank, Dah Sing Bank, DBS Bank, The Norinchukin Bank, The Korea Development Bank, Bank of China Frankfurt Branch, Chiyu Banking Corporation, Tai Fung Bank, Bank of China Rotterdam Branch, Banque Internationale a Luxembourg

SINGAPORE

Seatrium’s S$ 1.1 billion committed syndicated bank guarantee facility

Participants: Simmons &amp, Simmons, Standard Chartered, &nbsp, DBS Bank, Shanghai Pudong Development Bank, Mizuho Bank, Emirates NBD Bank, First Abu Dhabi Bank, Malayan Banking Berhad, Clifford Capital

Highly commended: &nbsp, Aircastle’s$ 600 million syndicated revolving credit facility

Participants: Bank of China, Caixa, CBA, SMTB, CUB, Taishin, plus lending consortium of 15 banks

SOUTH ASIA

JSW Steel Limited’s$ 900 million syndicated term loan facility

Members: DBS, BNP Paribas, CTBC, FAB, HSBC, Mashreq, Standard Chartered, SMBC, Intesa Sanpaolo, APICORP, CBD, DZ, BOT, CHCB, TIB, TBB, FCB, SBI Shinsei, BOK, LBT, TW Shin Kong, Taichung Commercial, TCB, San-in-Good, Hyakugo Bank

Highly commended: &nbsp, Beacon Pharmaceutical’s BDT3.768.8 billion syndicated term loan facility

Members: UCB Investment, Eastern Bank, Janata Bank, United Commercial Bank, Bank Asia, Jamuna Bank, ONE Bank, Rupali Bank

SOUTHEAST ASIA

SOUTHEAST ASIA/ APAC / INDONESIA 

PT Mineral Industri Indonesia ( Persero )$ 1.5 billion senior unsecured term loan and revolving credit facilities

Members: DBS, Bank of China (Hong Kong), BNP Paribas, BNI, Citi, Maybank, Mizuho, MUFG, OCBC, SCB, SMBC, UOB

 HIGHLY RECOMMENDED ( SOUTHEAST ASIA) THAILAND

Syndicated financing of Thb7.6 billion for Italian-Thai Development Public Company

Participants: Weerawong C&P, Bangkok Bank, Kasikornbank, Siam Commercial Bank, Krung Thai Bank

 MALAYSIA 

LQ Retail and LQ Hotel have secured green term loans worth MR2 billion.

Participants: UOB&nbsp,

PHILIPPINES

San Miguel Corporation’s$ 2 billion five-year syndicated term loan facility

Participants ( according to sources cited by Bloomberg ): Standard Chartered, ANZ, Bank of China ( Hong Kong ), CTBC Bank, ING, Maybank Kim Eng Securities, Mitisubishi Financial Group, Mizuho Bank, Rabobank, Sumitomo Mitsui Banking&nbsp,

VIETNAM 

Techcom Securities ‘$ 175 million syndicated loan facility

Members: Standard Chartered, CTCB Bank, Taipei Fubon Commercial Bank, Taishin International Bank, KGI Bank

 

&gt, BEST VENTURE CAPITAL DEALS &lt,

SINGAPORE

YouTrip’s$ 50 million Series B fundraising

Participants: Lightspeed Ventures ( lead investor ), Allen &amp, Gledhill

SOUTHEAST ASIA/ APAC 

Fano Labs investment by Openspace Ventures

Participants: Openspace Ventures ( lead investor )

 

&gt, MOST INNOVATIVE DEALS &lt,

AUSTRALIA / NEW ZEALAND

&nbsp, Alcoa’s$ 3 billion acquisition of Alumina

Participants: BofA Securities, Flagstaff Partners, JP Morgan, UBS

Highly commended: &nbsp, CRH’s A$ 2.9 billion acquisition of Adbr

Participants: UBS, Macquarie, Barrenjoey, Morgan Stanley, Gilbert &amp, Tobin, HSF

Chinese- Abroad

The acquisition of Hollysys Automation Technologies Ltd. by Ascendent Capital Partners&nbsp,

Participant ( s ): Industrial Bank Hong Kong

Highly commended: Alibaba’s$ 5 billion convertible bond &nbsp,$ 1.2 billion parallel stock purchase

Members: Citi, JP Morgan, Morgan Stanley, Barclays, HSBC

Chinese- Inland

Nanjing Iron and Steel Group’s acquisition by CITIC Pacific&nbsp,

Members: CITIC Securities

Highly commended: State Grid Overseas Investment’s Rmb1 billion panda bond issuance

Members: CITIC Securities, ICBC, Bank of China

HONG KONG Radar / APAC

Privatisation of L’Occitane

Participants ( legal advisors ): Kirkland &amp, Ellis, Skadden, Arendt, Loyens, Freshfields, Linklaters and Fried Frank, White &amp, Case&nbsp,

Highly commended: Super Hi’s double list on Nasdaq

Participants ( legal advisors ): Kirkland &amp, Ellis, Skadden, Arendt, Loyens, Freshfields, Linklaters and Fried Frank, White &amp, Case

Highly commended: HKSAR Government’s$ 750 million equivalent digital green bonds

Participants: Bank of China Hong Kong, Credit Agricole CIB, Goldman Sachs, ICBC Asia, UBS, HSBC

NORTH ASIA

SK Bioscience’s acquisition of 60 % stake in IDT group

Participants: Deutshce Bank, Commerzbank, Norddeutsche Landesbank, Sullivan &amp, Cromwell&nbsp,

SINGAPORE

STT GDC’s issuance of S$ 450 million 5.70 % sustainability-linked perpetual securities

Members: Standard Chartered

SOUTH ASIA

Refinancing for East India’s LNG Regasification Terminal Project in Dhamra, Odisha

Members: Standard Chartered

Highly commended: Kashf’s PKR2.5 billion female connection release

Members: Infra Zamin Pakistan, Arif Habib, Pakistan Credit Rating Agency, Vellani &amp, Vellani, Pak Brunei Investment Company, Bank Alfalah, Bank of Pubjab, Standard Chartered Pakistan

SOUTHEAST ASIA

SOUTHEAST ASIA/ THAILAND

ThaiBev’s property exit and share swap

Members: DBS, WongPartnership

Highly recommended: the Filipino Aquino International Airport’s rehabilitation project, which offers PHP 80 billion syndicated term loans.

Participants: BDO Capital

HIGHLY RECOMMENDED ( SOUTHEAST ASIA ) PHILIPPINES

Ayala Land’s PHP6 billion sustainability-linked bonds

Participants: BDO Capital, BPI Capital, China Bank Capital, Land Bank of the Philippines, RCBC Capital, SB Capital Investment

INDONESIA

PT Charoen’s$ 200 million and IDR7.5 trillion senior revolving credit facilities&nbsp,

Participants: Citi, DBS, plus consortium of other banks

MALAYSIA

Bursa Malaysia Offering for Johor Plantations Group

Participants: CIMB, AM Investment Bank, Affin Hwang Investment Bank, CLSA Singapore, CLSA Securities Malaysia

 

¬ Haymarket Media Limited. All rights reserved.

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Ex-PM proposes reforms amid global shifts

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On:
In: South-East Asia

Central company’s focus’ stalled development ‘

Thaksin Shinawatra, former prime minister, at the Forbes Global CEO Conference 2024. Forbes Asia
Thaksin Shinawatra, former prime minister, at the Forbes Global CEO Conference 2024. Forbes Asia

Thailand should be prepared for political change, according to former prime minister Thaksin Shinawatra, who has proposed financial reform.

At the Ritz Carlton in Bangkok on Thursday evening, Thaksin gave a speech at the Forbes Global CEO Conference.

Now in its 22nd season, the meeting convenes world-leading CEOs, tycoons, entrepreneurs, investors, and thought leaders to discuss important issues of global issue and develop new partnerships.

During the episode and Gala Dinner Session, Thaksin was invited to have a one-on-one speech with Steve Forbes, Chairman and Editor-in-Chief of Forbes Media.

The former prime minister suggested that the Thai government be prepared for upcoming political conundrums by proposing a number of economic reforms to boost Thailand’s market.

Thailand’s central bank was extremely concerned about the country’s economic problems, according to Thaksin, who claimed the government’s business had not improved significantly over the previous ten years.

He claimed that as a result, some commercial lenders under the control of the central bank did not lend to small businesses and those in need, leading to a lack of cash flow in the nation.

Thus, the central bank is simply duty-bound to oversee the commercial lenders, he said.

They should n’t have been overly protective, he claimed, which might have helped to boost foreign currency.

The central banks is an independent body, but it occasionally needs to speak up and interact with business interests to understand their problems.

” Besides, the central bank requires practical solutions to increase the cash flow in Thailand”, he said.

Thaksin said Thai businesses, regardless of size, want to reassess their business model.

Because of the increased competition in the economy, he claimed they may have fresh ideas, like using technology to support their work. The Taiwanese e-commerce program Temu and how it gained popularity were finally given as examples.

Plus, the government must safeguard local businesses as it seeks to attract more foreign investment. For instance, the government lately instituted a taxation policy for foreign investors who invest in Thailand, he said.

When Thaksin inquired about Thailand’s plan to construct a land bridge to connect the Andaman Sea and the Gulf of Thailand, Thaksin said that the country should prioritize constructing a area bridge otherwise.

‘ ‘ We need to have engagement from the exclusive market in the building ]of that land bridge], in which they need to be concerned about the business validity while worried about the government’s benefit”, he added.

In politics, Thaksin was asked his opinion about what would happen if US President-elect Donald Trump imposed 10 % taxes on imported goods to the US and up to 60 % tariffs on Chinese products.

He claimed that US consumers may be forced to spend more for imported goods if Mr. Trump raises these taxes.

At the same time, if the US-China business war intensifies, Thaksin suggested that Thailand does expect more companies to come to the country.

He argued that Thailand needs strong tax incentives to entice more foreign investments from different global markets.

Additionally, he claimed that this financial union would help rebalance international funds within the next five times as Brics become more prevalent.

Brics is an international organisation comprising nine nations– Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.

Brics was founded to recognize different investment opportunities at its beginning.

He noted that Asean needs to be more unified by having the same level of consensus as” One Asean,” despite Thailand’s participation in the regional frameworks Asean and Asia-Pacific Economic Cooperation ( APEC ).

‘ ‘ Apec may allow small economic people to have the opportunity to obtain larger areas ]which may help them to grow faster], “he added.

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Indonesia is revving up its ambition to have a national car. Can a weapons firm deliver?

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On:
In: Asia

A Story OF Missed Enterprises

Not just Mr. Prabowo has a vision for creating a regional vehicle manufacturer as Indonesia’s leader. &nbsp,

Indonesia’s first president Sukarno, for instance, established PT Industri Mobil Indonesia in 1962 with the goal of producing Indonesia’s second national vehicles. &nbsp,

But, Indonesia experienced common civil unrest before production started in 1965, which resulted in the shooting of more than 500 000 Indonesian Communist Party sympathisers and people. &nbsp,

Under Suharto, who in the 1990s offered revenue exemptions for vehicles that were completely regionally produced, attempts to create a national auto were revived. &nbsp,

The decision was criticized both domestically and internationally because it turned out that Indonesian vehicle manufacturers had been rebranded as common models created by foreign companies. &nbsp,

Indonesia attempted numerous times to make a national auto after Suharto left in 1998. Most prototypes were abandoned at this point. &nbsp,

According to Mr. Bebin Djuana, an expert in the automotive industry, there has been very much help for Indonesian businesses developing their own cars since Suharto.

” These businesses need the president’s support. They are done for if these businesses are told to live in fear of stiff competition from more well-known models, according to Mr. Bebin, a resigned auto business professional who has written numerous books about Indonesia’s auto industry.

He claimed that other nations have been fast-tracking enable release and certification and providing regional players with everything from fiscal incentives and better access to loans and incentives. Before effectively developing their nation’s automobile industry, they also created demand for the goods. &nbsp,

Malaysia, for example, provided RM13.9 billion ( US$ 3.1 billion ) in research and development grants, stimulus packages and tax incentives to Proton since its establishment between 1983 and 2017. &nbsp,

Proton was able to create new models for less money than its rivals, who had to pay import taxes for parts or completely assembled models shipped from abroad. &nbsp,
&nbsp, &nbsp,
” Some nations grant first-time vehicle owners significant grants if they purchase localized brands. Some governments purchase local businesses ‘ vehicles and use them as standard vehicles and operational vehicles, according to Mr. Bebin.

In Indonesia, where leaders frequently concentrate on their own policies rather than pursuing the legacy of their predecessors, these federal incentives continue to exist through plan changes. &nbsp,

These nations continue to support them consistently, especially in the crucial beginning stages of these local businesses. Without ( consistency ) these companies would collapse and they would have to start from scratch”, Mr Bebin said.

After Malaysian sovereign wealth fund Khazanah Nasional sold its Proton interest to company DRB-HICOM for RM1.2 billion in 2012, the Indonesian government continued to offer grants and tax bonuses. &nbsp,

However, the gains came to an end after Zhejiang Geely Automobile Holdings, a Chinese company, sold its 49.9 % stake in the company in 2017. &nbsp,

Pindad will likely receive the same level of help from the Indonesian state, according to Dr. Tauhid of INDEF.

” As a state-owned company, it will have the full support of the government in terms of regulatory protection ( from competition ) and various incentives. He added that it will be able to obtain low-interest funding from state-owned lenders under the government’s approval. &nbsp,

” Pindad stands out from other privately held companies that attempted to create their own car brands.”

What kind of financial assistance Indonesia does offer Pindad, which can only produce a small number of vehicles per month, in order to become a well-known car brand, is still a mystery. &nbsp,

” Pindad needs to have a long-term technique to support its growth,” the authorities said. So far, we have n’t seen such a strategy”, Dr Tauhid said. &nbsp,

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Severe flooding alert for southern provinces

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In: South-East Asia

Southern Peninsula will experience heavy rains through Saturday.

PUBLISHED: 21 Nov 2024 at 17: 29

The municipality of Nakhon Si Thammarat has been enduring continuous rain since Tuesday. (Photo: Nujaree Rakrun)
Since Tuesday, there has been ongoing rain in the Nakhon Si Thammarat city. ( Photo: Nujaree Rakrun )

The region’s southern provinces and their neighbors are expected to be hit by heavy rains until at least Saturday.

Due to heavy rain falling since Tuesday, Royal Irrigation Department workers in Songkhla’s Muang area have been removing debris and other items that are preventing all waterways.

The Crisis Prevention and Mitigation Office issued flash flood alerts and discharge for the following six times in the nearby Phatthalung. Authorities in Chumphon constantly update weather alerts for people, and Surat Thani has posted crisis figures on the provincial public relations office’s Facebook page.

In Narathiwat, citizens were urged to be on call for dramatic flooding and mudslides.

The Meteorological Department has issued instructions through Saturday for 12 regions along the southern peninsula’s southern edges due to windy conditions and rough seas.

According to the wind estimates, strong winds may cause the most rain to fall on the Gulf of Thailand.

The Pattani River’s rising water levels in Yala and Pattani counties were also raised by the Office of the National Water Resources on Thursday. According to the place in Sungai Kolok, the Kolok River’s stage was below the river institutions, but it was anticipated to rise, it continued.

One of the eight districts in Narathiwat has been named as a flood-risk place by the business, Sungai Kolok. Another at-risk regions in the region include Tak Bai even in Narathiwat, Muang in Nakhon Si Thammarat, Ranot in Songkhla and Sai Buri in Pattani.

According to municipal officials, Sungai Kolok experienced the second-highest amount of rain in all of Narathiwat’s districts between 7 a.m. and 7 a.m. on Thursday.

Premier Paetongtarn Shinawatra was concerned about the situation, according to Jirayu Huangsap, a senior aide to the perfect secretary. He instructed all government agencies in southern regions along the Gulf of Thailand to be prepared for storms on Thursday.

Near 20 villages along the Kolok River opposite Sungai Kolok, according to a report from the Malaysian National Flooding Forecasting and Warning Centre on Thursday, were expected to be flooded across the frontier in Malaysia’s Kelantan position.

The region has been blanketed by rainfall since Tuesday, according to the Indonesian news agency, and the center has been warned of possible flood from Friday through Sunday.

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Banking on connectivity: How Equinix is revolutionizing BFSI infrastructure

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In: Technology
    developing a sustainable economic system on a global scale

  • Revolutionizing finance through global digital communication

Banking on connectivity: How Equinix is revolutionizing BFSI infrastructure

In today’s banks, financial services, and coverage ( BFSI) business, interlinking is not just a buzzword—it’s the lifeblood of online transformation, driving a tectonic shift in how financial organizations operate and develop. At the heart of this revolutionary stands Equinix, a digital infrastructure business that’s weaving a global cloth of communication, redefining how economic companies operate, develop, and secure their digital assets. &nbsp,

Equinix’s position in the BFSI market is little short of revolutionary. Equinix has created a strong, global habitat that’s driving creativity and collaboration. The amazing breadth and breadth of the Equinix economic services ecosystem reflect this wide range. Using Equinix’s connectivity options, BFSI habitat participants continue to build and expand their services in the modern economy. &nbsp,

Beyond traditional financial institutions, this habitat also includes all major public cloud service providers, many financial organizations, data analytics companies, LLM and AI providers, and technology providers. A detailed network like this promotes innovation and new business models by facilitating smooth cooperation and data exchange.

enhancing the digital equipment needed for contemporary bank

At the core of this habitat is Platform Equinix®, which is at the frontline of enabling cutting-edge online banking services. By providing low-latency connections to a multitude of partners, including sky providers, system operators, surveillance and fintech companies, Equinix allows banks to produce future-ready platforms that can leverage various technologies through API calls.

This infrastructure flexibility is crucial in today’s multi-cloud environment. For instance, a bank can now run its front-end applications on AWS, use Google BigQuery for analytics, and tap into AI services from Microsoft or OpenAI, all while maintaining its core banking systems and customer data within Equinix’s secure data centers. &nbsp,

Equinix Fabric® facilitates this hybrid multi-cloud approach, enabling banks to provide their customers with the quickest and most innovative services without sacrificing security or performance. &nbsp,

Tariq Shallwani, head of Segment Strategy South Asia, Equinix, shared,” Over 85 % of enterprises are already using multiple clouds to gain agility. BFSIs have a transformative opportunity to leverage innovation from the cloud while avoiding vendor lock-in as new public cloud availability zones are launching in Malaysia.

Banking on connectivity: How Equinix is revolutionizing BFSI infrastructure

In a connected world, strengthening cybersecurity

As financial services become increasingly digital and interconnected, cybersecurity has become a paramount concern. Equinix addresses this issue head-on by providing safe, private options for connecting to the public internet, significantly reducing the threat of cybercrimes.

Central to this security strategy is Equinix Fabric, which allows financial institutions to create private, software-defined connections to their partners and service providers. By reducing latency, this increases both performance and security. &nbsp,

Building on this foundation, Equinix’s Network Edge service offers software-defined edge security solutions, including SD-WAN, firewalls, and routers as a service, extending the coverage to new markets and edge metros.

Navigating compliance in a global landscape

While enhancing security, financial institutions must also navigate a complex web of regulatory requirements. Global financial institutions face a significant challenge in ensuring compliance with data sovereignty and financial regulations. Equinix’s global presence, with data centers in key financial hubs worldwide, allows banks to maintain data residency while still accessing global markets.

Banks expanding their reach benefit most from this global-local approach. For instance, a bank in Malaysia can use Equinix’s facilities in Singapore or Hong Kong to access the region’s robust financial ecosystem while adhering to local data laws. Banks can expand their services internationally while maintaining the necessary regulatory compliance in each country.

Enabling real-time financial services

The future of banking is not just global and secure—it’s also real-time. Equinix’s low-latency connections and location of data centers close to major financial hubs help to realize this. This infrastructure enables banks to process transactions and analyze data in near real-time, a capability that is crucial for services like high-frequency trading, real-time fraud detection, and instantaneous cross-border payments.

Additionally, Equinix’s edge computing capabilities enable the financial sector to integrate IoT and AI technologies. For instance, insurance companies can now process data from IoT devices in real-time, enabling more accurate risk assessments and faster claims processing. This convergence of advanced technologies and real-time capabilities opens up new horizons for financial services.

Together with Equinix and Orange Business, the two companies have established a strong partnership to provide BFSI clients with appropriate solutions that are customized to their requirements. Disaster recovery is one of these options, from new, innovative service offerings to the re-architecture of the IT infrastructure in data centers and the cloud. &nbsp,

Christophe Ozer– head of Evolution Platform Orange Business APAC – Cloud, Connectivity, Cybersecurity, shared,” Through our partnership, Orange Business and Equinix are enabling financial institutions to unlock new levels of agility and security, ensuring they remain at the forefront of innovation while meeting the demands of a rapidly changing financial landscape”.

Sustainability in finance

Now, as the financial sector evolves technologically, it’s also grappling with its environmental impact. Here too, Equinix is leading the charge towards sustainable digital infrastructure. Despite growing its global data center footprint and vowing to reach 100 % clean and renewable energy coverage across its global portfolio of data centers by 2030, Equinix reduced its operational scope 1 & 2 emissions by 24 % from a 2019 baseline in 2023. &nbsp,

This initiative extends to all facilities, whether newly constructed or recently incorporated into the company’s portfolio. In Malaysia, Equinix’s data centers are 100 % renewable, and in 2023, Equinix’s global operations had a total renewable energy coverage of 96 %, surpassing 90 % for the sixth consecutive year…

Financial institutions can use cutting-edge digital infrastructure to achieve their own environmental goals while achieving these goals. It’s a win-win scenario where technological advancement aligns with environmental responsibility.

Future-proofing finance

The impact of interconnected ecosystems in finance will only increase as the years go on. Equinix is at the forefront of this trend, expanding its global reach and improving its services indefinitely. The company’s recent expansion into Southeast Asian markets like Malaysia demonstrates its commitment to supporting the sustainable expansion of emerging markets ‘ digital financial services.

For banks and financial institutions, partnering with Equinix offers a clear path to digital transformation. It provides access to a global ecosystem of partners, secure, sustainable and high-performance infrastructure, and the flexibility to innovate and scale rapidly. Equinix’s interconnected ecosystems will undoubtedly have a significant impact on shaping the future of finance as the landscape of the financial services industry continues to evolve.

Ultimately, in this increasingly digital and interconnected world, Equinix is not just providing sustainable infrastructure – it’s powering the future of finance. By enabling secure, compliant, and innovative financial services, Equinix is helping to create a more connected and efficient global financial system, benefiting institutions and consumers alike. &nbsp,

As technology develops, the interaction between financial services and digital infrastructure will continue to spur innovation, creating a more diverse and dynamic financial ecosystem.

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Archegos founder Bill Hwang sentenced to 18 years in prison

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Former Wall Street investment, Sung Kook” Bill” Hwang, has been sentenced to 18 years in prison in a huge scam circumstance that cost businesses billions of dollars.

Hwang was found guilty of fraud and business manipulation in a 2021 case involving his investment portfolio Archegos Capital Management.

Before announcing the statement, US District Judge Alvin Hellerstein said,” The amount of costs that were caused by your do is larger than any other loss I have dealt with,” according to estimates cited by Reuters media company.

Although the prison sentence for white collar crimes was somewhat shorter than the 21-year prison sentence requested by the prosecution, it is still exceedingly long.

The prosecutor has not yet made an announcement regarding the matter, though the prosecution had even requested compensation. On Thursday, the sentencing hearing will begin.

Hwang was found guilty of lying to the largest investment bankers because he had allegedly lied to many companies in secret.

One of the largest wall account collapses since the 2008 financial crisis occurred when Archegos ‘ failure to pay its creditors caused a massive stock sell-off, which caused the bank to quickly collapse in less than a week.

Credit Suisse, which has since become a part of UBS, Nomura, and Morgan Stanley, are just a few of the major banks that suffered significant losses as a result of Archegos ‘ collapse.

Hwang’s doctors had called for him not to get punished, citing his Christian beliefs and his donations to charity.

They also said his wealth, which at one point was valued at an estimated$ 30bn ( £23.7bn ), had fallen to an estimated$ 55m.

The judge called the requests for leniency “utterly ridiculous” due to the money involved and compared Hwang to the disgraced founder of FTX, Sam Bankman-Fried, who received a 25-year sentence for fraud last year, according to Bloomberg.

Hwang’s attorneys did not respond to the BBC’s request for comment right away.

Hwang’s assistant at Archegos and co-defendant, Patrick Halligan, who was also found guilty on three legal fees at the same test, is set to be sentenced at a hearing scheduled for 27 January.

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Govt moves to ease debt burden

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In: South-East Asia

Curiosity wait on debt of B1.31trn

People seek consultations about how to settle their debts at an event jointly organised by the Justice Ministry and 23 financial institutes at Suan Dusit University in Bangkok in January (Photo: Apichart Jinakul)
At a meeting held in January at Suan Dusit University in Bangkok in collaboration with the Justice Ministry and 23 financial institutions ( Photo: Apichart Jinakul ) people seek consultations about how to resolve their debts.

As part of efforts to reduce household debt, the Finance Ministry has revealed details about the government’s plan to halt interest payments for three different debtor parties.

The strategy for borrowers with debt up to a year premature was approved by the financial stimulus committee headed by Prime Minister Paetongtarn Shinawatra on Tuesday.

The three-year attention suspension system will support late home loans not exceeding 3 million baht, car loans not exceeding 800, 000 baht, and tiny- and medium-sized enterprises ‘ loans of up to 3 million baht, Paopoom Rojanasakul, deputy finance minister, said.

Of the payments totalling 1.31 trillion baht, home mortgage lenders owe 480 billion baht, auto loan lenders owe 370 billion rmb, and SMEs owe 454 billion baht, Mr Paopoom said.

Because we believe the debt will be able to clear their debt and getting back on their feet rapidly if they receive assistance from the government, the government has decided to suspend interest payments for the debt.

The Finance Ministry will allow banks to reduce their fee contributions to the Financial Institution Development Fund ( FIDF) from the current level of 0.46 %, according to Mr. Paopoom, in order to make up for the bank’s interest rate reduction caused by the measure.

The Thai Bankers ‘ Association ( TBA ) confirmed that banks will be able to finance the interest suspension program by lowering their FIDF fee contribution.

Consumers who receive a expulsion may follow a debt restructuring plan and refrain from applying for additional money over the course of three years to prevent moral hazard and guarantee the efficient reduction of household debt.

According to bill data as of October 31, eligible borrowers must have completed their payment agreements with banks by January 1 of this year and be facing difficulties making their mortgage payments.

According to the TBA, the initiative aims to assist targeted borrowers in reducing their debt and encouraging economic discipline throughout the restructuring process. As of June, Thailand’s household-to-GDP ratio was 89.6 %, and household debt was 16.3 trillion baht, among the highest levels in Asia.

However, deputy finance secretary Julapun Amornvivat announced on Wednesday that the state security committee would join on Thursday to evaluate the requirements for state welfare cards.

According to Mr. Julapun, fresh registration will start for applicants in March of next year.

According to the Finance Ministry, some individuals may have earned enough to leave a resilient type without losing their ability to receive benefits because of the need to reprocess data to determine eligibility for vulnerable groups.

Every two decades, the department reviews the registration of people with state security cards. The 2022 assessment was the last one, and this year’s assessment was supposed to start.

The innovative registration review was delayed until early 2025 due to efforts to address the country’s flood problems in some areas.

The main requirements for receiving the state security card is having a child’s and family’s annual salary hardly reach 100, 000 ringgit. Based on a daily minimum salary of 300 rmb, this number has been determined. In the most recent membership large for the express welfare card, there were 13.5 million less eligible recipients than there were in the previous round, down from 14.9 million.

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