EQT beats Asia mid-market growth fund target | FinanceAsia

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The total fund commitments for private equity firm EQT’s BPEA EQT Mid-Market Growth Partnership fund totaled$ 1.6 billion, more than twice the fund’s original target of$ 750 million.

The Asia- focused middle- business buyout fund, which had an original goal size of$ 750 million, closes with$ 1.6 billion in full fund commitments, of which$ 1.4 billion is fee- generating, according to a company statement.

The&nbsp, may focus on the technologfundy, services, and medical businesses across Asia, prioritising India, Southeast Asia, Japan and Australia. To date, it has invested in four things. &nbsp,

In 2024, practically$ 29 billion in total commitments have been raised by EQT’s personal capital strategies around the world.

The bank has a “diverse selection” of international investors, while existing investors in the lineup Asian huge- cover buyout funds made up over 80 % of the entire commitments, according to the statement. A” significant” unknown part of the agreements also came from EQT people, while the majority of the remaining agreements came from owners in other EQT cash, which were allocating to the Eastern system for the first time.

Following the$ 24 billion closing of EQT X in February and the$ 3 billion closing of EQT Future in March, the fund’s total commitments increased to nearly$ 29 billion in total after the fund closed.

” We have invested in Asia for the past three decades, and our large-cap platform is now fully developed and established.” We no longer had a dedicated pool of capital to invest in compelling mid-market companies, according to Jean Salata, chairman of EQT Asia and head of the EQT Private Capital Asia advisory team. &nbsp,

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Thai food producers take on the world

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PUBLISHED: 29 May 2024 at 04: 00

Thai food producers take on the world
Srichanok Wattanasiri, chairman of Monty &amp, Totco, stands at her hall promoting Thai meal exports at the’ Thaifex — Anuga Asia 2024′, the largest and most complete food and beverage industry show in Asia, at Impact Muang Thong Thani yesterday. The contest is ongoing until June 1. Varuth Hirunyatheb

Thai food items are popular on international markets, but Srichanok Wattanasiri, a meal supplier, also needs strong support from state companies to get trademarks there.

Her corporation, Monty &amp, Totco, manufactures different Thai food items under the company Thai Choice. For more than four decades, it has been exporting cooking ingredients, including sauces, canned fruits, snacks, beverages and prepared- to- take meal kits, to 50 countries globally.

Ms. Srichanok, who took part in the Thailand- Anuga Asia 2024 show at Impact Muang Thong Thani, revealed that 70 % of her international trade amount comes from her clients in the Middle East and Europe.

She is currently looking for new businesses in the Latin American and African regions, claiming that pasta, coconut butter, and dipping recipes are anticipated to be well received there.

She said,” We would like to be the first to introduce Thai meal to a fresh business.”

The company even pushes healthier Thai products worldwide, including with lower- sodium sauce and lower- fat coconut milk.

She added that thanks to the assistance of the state firms, particularly the Department of Export Promotion, which consistently invites Thai food manufacturers to take part in global food expositions abroad, the future of Thai food exports is promising.

She said,” Indian food exporters would greatly benefit from additional assistance to help trademark registration in international territories.”

” In many countries, the mark enrollment process is quite challenging. Without solid support from the government, Thai meal companies risk losing business opportunities.

Sri Racha Sauce is a prime example of this, for which we lost the brand despite having a Thai origin. That should not occur once,” she said.

According to her, Thai Choice’s growth surged 35 % immediately after the end of the pandemic and an additional 10 % after that, largely due to the popularity of Thai food and the company’s investment in food innovation.

To satisfy consumer expectations for environmentally conscious food production, the company intends to phase out metal containers and use carbon-free colors for logo printing.

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Cannabis supporters plan legal challenge of policy u-turn

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Parties gather in Bangkok to gather names for a petition to stop the reign of criminality.

PUBLISHED: 28 May 2024 at 21: 46

Cannabis supporters plan legal challenge of policy u-turn
On September 2, 2023, retailers wait for consumers at a cannabis store in Phuket. ( Photo: Reuters )

In Bangkok, lots of cannabis companies, producers, and activists staged legal protests and threatened legal action against the state as it pursues a plan to categorize pot as a narcotic only two years after decriminalizing it.

Roughly 2, 000 signatures were collected on Tuesday at a rally in front of the capital’s UN Economic and Social Commision to support a legitimate petition to stop the government’s action. Cannabis activists displayed posters urging people to” stop villainizing thc.”

According to Jerawat Tanyaprirom, a hemp firm owner who collected the names, the complaint may be filed with the Central Administrative Court against Prime Minister Srettha Thavisin. If the government goes away with the u-turn, the petition were required to provide any financial losses they would incur.

” If the government backed down, we would n’t need to file this petition. But we want to have this as an ammunition”, Mr Jerawat said. &nbsp, &nbsp,

The native cannabis industry has been thrown into new uncertainty by a full re-criminalization ordered by Mr. Srettha earlier this month. Mr Srettha said Thailand had placed hemp back into the record of” group five” cocaine —&nbsp, which may make it a crime to “produce, market, import, export, or possess” the flower and use it — after the Southeast Asian nation became the first in Asia to decriminalise the plant in 2022. &nbsp,

Since 2022, thousands of dispensaries have been operating in the area, selling everything from cannabis buds to fuel extracts, weed-infused candy and baked goods that must not exceed 0.2 % of the psychoactive compound known as THC, which causes a “high” experience. THC is currently considered a” controlled herb” and is not outright prohibited from its outdoor use. &nbsp,

Most cannabis campaigning organizations want the government to regulate the market by passing policy, instead of a cover re- criminalisation. &nbsp,

” If we use the narcotics regulation, we will be putting hemp back in jail and allowing it to be grown by just some parties of people”, Writing Thailand’s Cannabis Future, an advocacy group, said in a statement on Tuesday. Additionally, the group demanded a new protest on June 9, the day that the decriminalization celebration will occur.

Last week, Public Health Minister Somsak Thepsutin announced that permits would be required to develop and use cannabis for research and clinical purposes, and that recreational use would be prohibited under new legislation. He argued that those who were willing to follow the law would n’t be burdened by the permit system.

More than 1 million families have registered with the authorities to grow cannabis for commercial purposes in addition to to benefit from the rising demand. According to the top, cannabis for medical and health functions will still be permitted.

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Malaysia unveils 3-phase US.3bil National Semiconductor Strategy to strengthen position in all-out global semicon war

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  • 3- step plan backed by US$ 5.3bil in governmental support and qualified opportunities
  • Walk up&nbsp, into higher- finish manufacturing, style, packaging, and equipment

Prime Minister Anwar Ibrahim declared Malaysia's intention to cement its position as a leading international hub for semiconductor manufacturing, and innovation while aiming to build a strong base in chip design.

The Malaysian government today unveiled its comprehensive three-phase plan, supported by US$ 5.3 billion ( RMRM25 billion ) in fiscal support and targeted incentives, in an ambitious move to advance the nation’s position as a leader in the semiconductor industry over the next ten years. &nbsp,

Prime Minister Anwar Ibrahim unveiled the action at the SEMICON SEA 2024 meeting in Kuala Lumpur now, laying out Malaysia’s intentions to strengthen its position as a leading global hotspot for semiconductor manufacturing and development while aiming to establish a solid foundation for chip style.

Anwar’s news comes in the wake of Yoon Suk Yeol, the president of Sought Korea, who last week described the world’s semiconductor market as an “all-out war” to capture the fruits of what is expected to be a US$ 1 trillion marketplace by 2030.

US$ 19 billion ( RM89.2 billion ) support package with 70 % focused on helping homegrown SMEs in the semiconductor supply and value chain.

Anwar emphasized the crucial role of a tenacious and developed global semiconductor supply chain while recognizing Malaysia’s solid foundations as the country’s 6th-largest exporter and 10th-largest consumer of electrical and electronics goods. &nbsp,

Highlighting its outsourced semiconductor assembly and test ( OSAT ) specialization, Anwar also spelled out Malaysia’s intentions to move up the value chain into higher- end manufacturing, design, packaging, and equipment.

” The NSS is a strong, agile, equitable, and forwards- considering strategy designed to foster collaboration with companies across ASEAN, Asia, and the world stage”, Anwar proclaimed. A robust multinational semiconductor production is still necessary for humanity, despite geopolitical dynamics, especially as our time is running out in our efforts to combat climate change and mitigate risk.

Reflecting Malaysia’s increasing strategic position, Penang, Asia’s Silicon Island, attracted a record RM61 billion &nbsp, in semiconductor FDI last year- exceeding its combined FDI of the previous seven years. This includes Intel’s RM30 billion investment in a new fabrication facility.

]RM1 = US$ 0.212]

Anwar reaffirmed that while proud of our OSAT accomplishments, we have strong potential to expand further into the value chain, underlining the NSS’s strategy to foster an ecosystem supported by dynamic Malaysian businesses and world-class talent working with global industry leaders.

The ambitious NSS was created as a result of a collaboration between the Ministry of International Trade and Industry ( MITI), its agencies, and a number of other ministries. It has been organized into a three-phase plan. Phase 1 focuses on” Building on Our Foundations” by leveraging Malaysia’s existing industry capacity and capabilities. &nbsp,

This includes modernizing OSAT services with advanced packaging, expanding trailing- edge chip fabrication and power chip production, and developing local chip design champions. Phase 2, dubbed” Moving to the Frontier”, will pursue cutting- edge logic and memory chip design, fabrication, testing, and integration with major chip buyers. &nbsp,

Anwar expressed confidence that Phase 1’s successful implementation will encourage the best-known advanced chip manufacturers to start operations in Malaysia. The third and final phase,” Innovating at the Frontier”, aims to develop world- class Malaysian semiconductor design, advanced packaging, and manufacturing equipment firms while attracting cutting- edge technology giants like Apple, Huawei, and Lenovo to pursue advanced manufacturing in the country.

Five overarching goals that the Malaysian government has set serve as foundation for the NSS:

  1. Secure at least RM500 billion in investments for Phase 1, driven by domestic direct investments in IC design, advanced packaging, and manufacturing equipment, coupled with foreign direct investments in wafer fabs and semiconductor equipment.

  2. Establish at least 10 Malaysian businesses in the advanced packaging and design industries, each with a revenue range of RM1 billion to RM4.7 billion by Phase 2. There are envisioned a further 100 local businesses that are related to semiconductors and have revenues in excess of RM1 billion.

  3. Position Malaysia as a globally- recognized R&amp, D hub for semiconductors, bolstered by world- class universities, corporate research centers, and centers of excellence that blend top Malaysian and international talent.

  4. In the next five to ten years, train and advance a highly skilled semiconductor workforce that includes 60, 000 Malaysian engineers.

  5. To ensure the NSS’s successful operation, allocate no less than RM25 billion in fiscal support and targeted incentives.

Overall, the NSS is spearheaded by the National Semiconductor Strategic Task Force ( NSSTF ) under MITI’s oversight, with CREST serving as the strategy’s secretariat. While maintaining Malaysia’s core aspiration, which is” a major global player in accessible technology for everyone, powered by our semiconductor industry,” Anwar emphasized that the NSS will continue to be a “living document” that constantly evolves in response to changing industry and market conditions.

Malaysia’s positioning as a neutral, non-aligned territory that can support a distributed and diversified semiconductor supply chain helps to mitigate geopolitical risks and vulnerabilities, underpin the national strategy. Anwar emphasized Malaysia’s willingness to cooperate and make investments from all over the world in order to advance this crucial industry as a whole.

” Today, I offer our nation as the most neutral and non- aligned location for semiconductor production, to help build a more secure and resilient global semiconductor supply chain”, he declared, calling for support from industry stakeholders within Malaysia and internationally.

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Philippines deploys river rangers in battle against plastic

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“IT’S Disconcerting” Emma Gillego, who lives in a stilt-shanty with a view of the Paranaque River, has n’t seen a garbage truck in her neighborhood since her family moved there 20 years ago. Even though area sanitation workers visit several days a year to educate residents about spend discrimination, plasticContinue Reading

KWAP allocates US.28bil for private capital investment via Dana Pemacu

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  • Identifying vital economic sectors and impact-related topics under the Ekonomi MADANI
  • 50 % may be Shariah- focused, unlocking Muslim capital investment, create greater effect

Minister of Finance II Amir Hamzah Azizan (4th from left), officiated the launch of Dana Pemacu with Nik Amlizan Mohamed (3rd from left), CEO of KWAP and other executives.

Malaysian Anwar Ibrahim announced today that Kumpulan Wang Persaraan ( Diperbadankan ) ( KWAP ) will invest US$ 640 million ( RM3 billion ) in Shariah compliant investments, making up 50 % of the total Dana Pemacu capital commitment of US$ 1.28 billion ( RM6 billion ). Anwar gave a speech at Kuala Lumpur’s International Forum on Islamic Economics and Finance.

Dana Pemacu will be a Malaysia- focused personal equity investment strategy, targeting key financial sectors including food security, education, gold economy and healthcare, energy transition, modern economy, financial inclusion, and other impact- related critical themes under the Ekonomi MADANI framework.

In partnership with local talent and renowned international investment managers across three distinct asset classes: private equity, infrastructure, and real estate, Dana Pemacu will be executed using Separately Managed Account ( SMA ) funds.

” The government’s broad reform, which includes the introduction of Dana Pemacu by KWAP, is in line with the government’s plan to maximize GLIC administrative funds to encourage investments in high-growth Indonesian companies, thereby supporting efforts to raise the roof under the MADANI platform. Amir Hamzah Azizan, the minister of finance II, officiated the release of Dana Pemacu, adding that Dana Pemacu’s collaboration with domestic and international funding professionals may help improve Malaysia’s secret industry ecosystem.

The RM6 billion funding commitment will be made using standard and Shariah-compliant SMAs, with 50 % being Shariah-focused. This will increase the potential of Muslim equity capital in improving the overall exclusive markets and promoting social and socially responsible investing opportunities.

” We think that Dana Pemacu is instrumental for the growth and progress of the country,” said Nik Amlizan Mohamed, CEO of KWAP. Our intention is to use this money to fund the development of partnership models between local talent and international fund managers, which will help to establish the Malaysian private market investment ecosystem. Additionally, this initiative will promote industry networking and knowledge transfer as well as bringing global best practices and expertise to the local market.

Nik added that the newly launched capital investment supports KWAP’s aspirations to support more local businesses to expand both domestically and internationally through both conventional and Shariah-compliant channels. This ultimately strengthens the financial markets and promotes the development of local talent in Malaysia.

The move also supports Malaysia’s pursuit of transforming its industrial sector to be more competitive, sustainable, and inclusive under the NIMP 2030 plan of the MADANI Economy, through financing projects related to private equity, infrastructure, and real estate sectors.

With Dana Pemacu as its investment strategy, KWAP said it is still working to ensure the fund’s best returns in order to help the government with paying its pension liabilities.

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Digital Edge partners Donghwa ES to develop innovative energy storage technology for data center redundancy

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  • A future-proof alternative to conventional chargers was developed in partnership by both companies.
  • Established solutions for improved data center security, environmental sustainability

Digital Edge partners Donghwa ES to develop innovative energy storage technology for data center redundancy

Digital Edge ( Singapore ) Holdings Pte. A next-generation energy storage system developed by Donghwa ES, a South Korean-based engineer of next-generation energy solutions for hyperscale facilities, has been collaborated with Ltd., one of Asia’s fastest-growing data middle platforms, to create a system that redefines data center redundancy and conservation. The company stated in a statement that the Hybrid Super Capacitor Energy Storage System offers a viable alternative to conventional batteries and has the potential to transform data centre ancillary power generation for upcoming AI and hyperscale loads.

The data centre business today depends on lithium-ion batteries or lead-acid batteries for backup generators and Uninterruptible Power Supplies, the essential tools that enable operators to keep availability in the event of a strength failure to the grid. The data centre market is under increasing pressure to improve energy efficiency and decrease the firm’s carbon footprint as demand for higher energy density deployments rises, fueled by the rapid increase of AI and cloud providers.

Both businesses have collaborated to develop a future-proof alternative to traditional batteries in search of more dependable and responsible energy storage. They do so by combining Digital Edge’s data centre operations experience with Donghwa’s energy storage system engineering and design skills. The two organizations have collaborated to create the HSC Energy Storage System systems. Preliminary testing has been successful, and Digital Edge has confirmed its intention to use this technology in a number of newly constructed data centers.

In contrast to other systems, the HSC technology uses a hybrid power store technique that combines activated carbon from an electrical double-layer battery with coal from a lithium-ion power to create a option that lessens the bad electrode’s degeneration. The HSC’s ability to operate for a longer period of time, with the projected replacement cycle lasting nearly 15 years, or nearly 2.5 times more than additional battery products, is significant savings for the overall cost of ownership.

Critically, the HSC is designed to withstand many higher temperatures than conventional chargers up to 65°C, preventing users from saving energy by not needing to cool the products. This position makes the HSC well-suited to support energy-intensive AI and high power density deployments that necessitate difficult liquid cooling as well as help wider conservation initiatives across the data center industry to gradually raise operating temperatures and reduce carbon emissions.

Additionally, the HSC can be quickly recharged, allowing it to effectively deal with numerous consecutive power outages in a data center. In addition, it does not utilize metal oxide, meaning the risk of fire due to thermal runaway is fundamentally eliminated, thereby significantly reducing potential fire hazards.

According to Jay Park, chief construction and development officer for Digital Edge,” We want to be more than just a data center operator; we want to be a leader that continues to innovate and establish new standards that will elevate the entire industry.” Our customers value redundancy, so we set out to find ways to improve the technology that is currently at the heart of this. The HSC Energy Storage System, which we are proud to have developed in partnership with Donghwa, will help to improve the reliability and safety of the data center industry while also supporting our environmental goals, he said.

Meanwhile, Ji- Won Suh, CEO, Donghwa ES said,” Donghwa ES designs and manufactures next- generation energy storage systems and power solutions for hyperscale data centers. Power-intensive data centers are expanding rapidly as a result of AI’s rapid advancement. In the increasingly power-intensive data center industry, our goal is to guarantee complete protection from potential incidents caused by thermal runaway. We hope to establish a new energy storage system standard for the global data center industry through our partnership with Digital Edge. In particular, we intend to work together to install energy storage systems in the Asia-Pacific region, which is experiencing the fastest growth in the world, to create hyperscale data centers, he said.

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Govt to concentrate more on clean energy

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PUBLISHED: 28 May 2024 at 06: 11

Govt to concentrate more on clean energy

According to Prime Minister Srettha Thavisin, the state is promoting the use of fresh energy and solving global climate problems.

Mr. Srettha stated on Monday that he believes clean energy may accounts for 50 % of the nation’s electricity consumption in 15 years.

He made the comments in a statement at the “EARTH JUMP 2024: The Edge of Action” occurrence at Samyan Mitrtown.

He claimed that since his state first took office about nine weeks before, it has been monitoring global warming and making travel arrangements to draw foreign investors to Thailand.

According to him, he approached buyers who valued three things: benefits, independence of strength and fresh energy.

Thailand has to be ready to compete with different places, he said, adding that he believes the country has numerous advantages over its competitors, including the properly- getting of its citizens, low living expenses and its rules.

According to Mr. Srettha, Laos is Thailand’s potential source of fresh energy because it has a sizable source and has several rivers close by. He has had a conversation about the problem with Laos ‘ prime minister, he said.

He also urged private financial institutions to support clean energy-related businesses like solar farms and electric vehicle ( EV ) companies. The state is in discussions with the Thailand Stock Exchange about encouraging clean energy companies to move people, the perfect secretary added.

According to him,” I’m convinced that clean energy will account for 50 % of Thailand’s electricity use in 2040, or in about 15 years,” he said, adding that the state has a number of rivers that can generate a lot of fresh energy.

Additionally, he requested that big companies work with him to aid the government in accomplishing the goal.

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‘We don’t buy it’: Student activists protest ExxonMobil’s role in Sm low-carbon research lab at NTU

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” HIGHLY About” Given ExxonMobil’s bad ecological track record, which included reversing a much-publicized investment in algae renewables and blocking owners ‘ climate ideas, NTUDivest wrote in an Instagram post on May 12. &nbsp, In its post, NTUDivest wrote: &nbsp,” From climate breakdown to toxic environmental pollution, ExxonMobil is noContinue Reading