Perikatan Nasional hits back at UMNO’s criticisms of new joint investment firm by 4 opposition states

By:
On:
In: Asia

The SG4 grouping, which was formed in September 2023 and refers to the four opposition-controlled state governments of Kelantan, Terengganu, Kedah and Perlis, announced on Monday ( Sep 2 ) that it had set up a company to share revenue equally.

The state have portrayed the company as a means of catching up with the more created, government-held state. They previously asserted that the federal government had been slowed down in terms of funding and infrastructure projects as a result of their social position.

Official statistics show that Kelantan ( 13th ), Perlis ( 12th ) and Kedah ( 11th ) had three of the lowest gross domestic product per capita among Malaysia’s 13 states in 2021. Terengganu came in seventh, ahead of Sabah.

In particular, the SG4 company is looking to exploit the criticism state ‘ vast resources of unusual world deposits, very sought in the production of high-tech products including smartphones, semiconductor chips and electric vehicles.

Former prime minister Mahathir Mohamad, who posted on social media platform X on Tuesday, advised SG4 Group that the state must implement “efficient management” to ensure the people’s monetary benefits from these natural sources.

Dr. Puad, a member of the UMNO Supreme Council, claimed in a Facebook post on Tuesday that if power shifts in the opposition says, issues might come with the SG4 organization.

” It’s not impossible that BN will regain Terengganu, Kedah and Perlis”, said Dr Puad, referring to the UMNO-led Barisan Nasional alliance, which is part of the unity state.

Dr Puad, who is also speech of the Johor state parliamentary council, took aim at Mr Sanusi, describing him as a person who was not fond of sharing, in a jibe at the revenue-sharing purpose of the SG4 business.

” So, the setting up of the SG4 firm is politically motivated, not for business. What more if its advisor is Tun M ( Dr Mahathir )”, he wrote.

Dr. Mahathir, a vocal supporter of Malay and Muslim freedom, has previously been accused of making up issues of race and faith for political gain.

Mr. Sanusi addressed Dr. Puad immediately on Wednesday, noting that BN only has two state votes in Kelantan and Kedah, Terengganu, and Perlis.

” I want to tell him that PN will capture Pahang, Perak, Melaka and Negeri Sembilan ( in the next state elections ). We will be further expanding ( the PN state administration )”, Mr Sanusi told reporters in Kedah.

Mr Takiyuddin Hassan, PN’s key punch and a Kelantan national member of parliament, said on Tuesday that Dr Puad did not understand the role of SG4’s business.

At a press conference in Kota Bharu, he said,” When a company is established, it will definitely have its owners, and they can decide to leave anytime if they do not wish to remain with the business,” according to Berita Harian.

” If for example there are changes in parties in the four states, and they ( the current members ) still want to be with the SG4 company, that is not a problem”.

Mr Takiyuddin, who is also secretary-general of PN part group Parti Islam Se-Malaysia, even left the door open for different states to join the SG4 company if they were engaged.

WEALTH Supply

The SG4 firm will concentrate on five important economic regions, with each of the four states holding 25 % of the company’s capital, according to local advertising.

These clusters are business and industry, natural systems, facilities and logistics, trade and investment and agriculture and food safety, as well as training and human money.

The SG4 states should ensure that their rare earth element ( REE ) mining activities are in compliance with national regulations and ecosystem, according to Deputy Prime Minister Ahmad Zahid, who is also the president of UMNO.

There is still possible, Mr. Ahmad Zahid said as quoted by the Star, even though Rh prices have drastically decreased as a result of amassing in some nations.

” I believe that the SG4 has good intentions in forming a corporation to handle Rcd mining”, he said.

The federal government has set its own taxes and habitat, but the four says are also able to develop their own strategies.

Continue Reading

Commentary: What would it take to revive Singapore’s stock market?

By:
On:
In: South-East Asia

ENHANCING THE LISTING ECOSYSTEM

Next, Singapore may increase down on building its network of start-up and development companies. A constant supply of local businesses that want to go public can be assured by expanding initiatives like the Grant for Equity Market Singapore, the Anchor Fund@65, and increasing support for small and medium-sized enterprises eyeing a list.

Singapore should also be ramped up in efforts to make it the preferred identifying location for local start-ups. This can be accomplished by aggressive outreach to business capital and private equity firms, as well as focused tax incentives and co-investment funds to support IPOs. Pulling in more Eastern “unicorns” will build buzz and develop a critical mass of development businesses.

Third, Singapore may try to be a gateway for global investment to access Eastern growth prospects. This can be accomplished by actively promoting secondary listings of Eastern businesses that are already listed worldwide and encouraging listings of major Asian companies that are located elsewhere.

The key to fostering the right ecosystem of indicator providers, research firms, and industry makers will also be to promote investment and cost discovery in these stocks. Singapore now serves as an Eastern hub for international banks and asset managers; it may make use of these connections to encourage the participation of worldwide institutional investors.

Although a merger with another ipo might not be the best option, SGX may also benefit from pursuing strategic alliances and partnerships with other exchanges and industry participants.

For instance, SGX could discover joint ventures or mutual listing agreements with other markets in the region, such as those in Malaysia, Indonesia or Thailand. These partnerships may give businesses a way to access many markets and entrepreneur bases while still keeping their main listing in Singapore.

Third, some people have suggested that aligning the company’s major achievement indicators&nbsp more closely with the Singapore stock market’s overall growth and development may lead to positive outcomes even though the details of SGX’s inside incentive structures are not completely clear to outside observers.

Continue Reading

Blackstone and CPP Investments agree Abn AirTrunk acquisition | FinanceAsia

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

Blackstone Real Estate Partners, Blackstone Infrastructure Partners, Blackstone Tactical Opportunities, and Blackstone’s private equity strategy for individual investors, along with the Canada Pension Plan Investment Board ( CPP Investments ), have agreed to acquire AirTrunk, an Asia Pacific ( Apac ) data center firm, in a deal worth around A$ 24 billion ($ 16 billion ).

The sum includes both capital expenditures for devoted projects and debt. &nbsp,

The sellers are Macquarie Asset Management ( MAM ), Canada’s Public Sector Pension Investment Board ( PSP Investments ) and other investors. In April 2020, a MAM consortium purchased an 88 % stake in AirTrunk for about A$ 3 billion. &nbsp,

While a spokeswoman for Blackstone told&nbsp, FinanceAsia it is not providing&nbsp, a malfunction of the collateral percent, CPP Investments said in a company statement that it would be acquiring 12 % of AirTrunk. CPP Investments said it has info center joint ventures and opportunities in Australia, Hong Kong, Japan, Korea, Malaysia and Singapore, in addition to the US.

The package, if completed, may be Blackstone’s largest expense in Apac. The Australian Foreign Investment Review Board has approved the exchange.

AirTrunk is the largest information centre program in Apac, with a reputation across Australia, Japan, Malaysia, Hong Kong, and Singapore. According to a statement from Blackstone, it has more than 800 megawatts ( MW) of customer commitments and is the owner of land that can support over 1GW of regional growth. AirTrunk agreed a record sustainability-linked loan ( SLL ) of A$ 4.6 billion last year. &nbsp,

Jon Gray, president and chief operating officer of Blackstone, said:” AirTrunk is another important step as Blackstone seeks to be the top digital infrastructure investment in the world across the ecology, including data centers, strength and associated services” .&nbsp,

” Digital system is experiencing unprecedented demand driven by the Artificial revolution as well as the broader digitization of the business,” said Nadeem Meghji, world co-head of Blackstone Real Estate.

They added:” Prior to AirTrunk, Blackstone’s portfolio consisted of$ 55 billion of data centers including facilities under construction, along with over$ 70 billion in prospective pipeline development. To more accede to its progress, we look forward to working with the top management team at AirTrunk.

As we get the next wave of progress from cloud providers and AI and support the energy transition in Apac, Robin Khuda, chairman and chief executive officer of AirTrunk, stated:” This deal shows the strength of the AirTrunk system in a strong performing business.”

We look forward to working with Blackstone and CPP Investments, gaining from their size money, industry experience, and extensive network across the various local markets, which will help assist AirTrunk’s expansion, Khuda continued.

This investment marks yet another milestone in our broader data center approach, according to Max Biagosch, top managing director, global head of Real Property, and nose of Europe for CPP Investments, in a speech from CPP Investments. Our infrastructure and real estate teams seamlessly collaborated to underwrite this investment, which is a great example of close collaboration across the fund.

According to a statement from Blackstone, approximately$ 1 trillion in US capital expenditures will be expected over the next five years to be made to build and facilitate new data centers, and another$ 1 trillion in US capital expenditures will be made, according to a statement from the company. &nbsp,

Blackstone has invested in both the debt and equity of other data center companies, including&nbsp, QTS, Coreweave and Digital Realty. &nbsp,

The Hanam Data Center was acquired by Macquarie Asset Management via Macquarie Korea Infrastructure Fund earlier this year in the Greater Seoul Area of South Korea. The sale price was KRW734 billion ($ 530 million ), however, including the transaction cost and additional capital required to complete the remaining mechanical, electrical and plumbing works at Hanam IDC, the total sale size was KRW918 billion.

¬ Haymarket Media Limited. All rights reserved.

Continue Reading

Blackstone and Canada Pension Plan Investment Board agree bn AirTrunk deal | FinanceAsia

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

Blackstone Real Estate Partners, Blackstone Infrastructure Partners, Blackstone Tactical Opportunities, and Blackstone’s private equity strategy for individual investors, along with the Canada Pension Plan Investment Board, have agreed to acquire AirTrunk, an Asia Pacific ( Apac ) data center firm, in a deal worth around A$ 24 billion ($ 16 billion ).

The sellers are Macquarie Asset Management ( MAM ) and Canada’s Public Sector Pension Investment Board ( CPP Investments ). MAM bought a 88 % stake in AirTrunk in April 2020 for a valuation of around A$ 3 billion. &nbsp,

A spokeswoman for Blackstone told&nbsp, FinanceAsia it is not providing&nbsp, a collapse of the equity ratios. The AirTrunk will remain 12 % owned by CPP Investments, according to the statement. CPP Investments said it has information center joint ventures and assets in major centers in Apac, including Australia, Hong Kong, Japan, Korea, Malaysia and Singapore, and the US.

The package, if completed, may be Blackstone’s largest expense in Apac. The Australian Foreign Investment Review Board has approved the deal.

AirTrunk is the largest information centre program in Apac, with a reputation across Australia, Japan, Malaysia, Hong Kong, and Singapore. It owns property that will allow for over 1GW of regional development and has more than 800MW of customer commitments.

This is Blackstone at its best, according to Jon Gray, president and CEO of Blackstone.” We are using our international platform to capitalize on our highest faith design. Another significant development comes as Blackstone strives to be the world’s largest buyer in modern infrastructure, including power, data centers, and related services.

” Digital system is experiencing unprecedented demand driven by the Artificial revolution as well as the broader digitization of the business,” said Nadeem Meghji, world co-head of Blackstone Real Estate.

They added:” Prior to AirTrunk, Blackstone’s portfolio consisted of$ 55 billion of data centers including facilities under construction, along with over$ 70 billion in prospective pipeline development. To further accede to AirTrunk’s progress, we look forward to working with its top-notch management team.

The deal, according to Robin Khuda, founder and CEO of AirTrunk, demonstrates the strength of the AirTrunk program in a strong-performing field as we prepare for the upcoming wave of development from cloud services and AI and aid the transition to energy in Apac.

We look forward to working with Blackstone and CPP Investments, gaining from their size money, industry experience, and extensive network across the various local markets, Khuda continued,” We look forward to working with them.”

In a statement from CPP, senior managing director, global head of Real Property, and head of Europe, Max Biagosch, stated:” This investment adds another step to our broader data center plan, further expanding our footprints in the region for the benefit of CPP donors and beneficiaries. It is also a fantastic illustration of close collaboration between the fund’s infrastructure and actual estate teams working smoothly up to underwrite this investment.

According to a speech from Blackstone, approximately$ 1 trillion in US capital expenditures will be expected over the next five years to be made to build and promote new data centers, and another$ 1 trillion in US funds expenditures will be made, according to a declaration from the company. &nbsp,

Blackstone has invested in the debt and equity of several other data centre firms, including Coreweave and Digital Realty, the fastest-growing data center company in the world, and QTS. &nbsp,

¬ Capitol Media Limited. All rights reserved.

Continue Reading

Baker McKenzie Wong & Leow to add team from Morrison Foerster | FinanceAsia

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

According to a business press release, Baker McKenzie Wong &amp, Leow, a representative firm of Baker McKenzie in Singapore, is adding a group led by leaders Shirin Tang and Lip Kian Ang. &nbsp,

Tang previously served as the Singapore office’s handling partner and on the agency’s global executive committee. He will visit Morrison Foerster as its foreign partner.

FinanceAsia&nbsp, understands from a top business supply that the group will begin in the “next some weeks” and that a deeper two non-partner lawyers, from the same team, will also be joining Baker McKenzie Wong &amp, Leow from Morrison Foerster. &nbsp,

Tang will meet as co-head of the Singapore M&amp, A process, simultaneously with Boo Bee Chun. Tang has over 20 years of experience in cross-border mergers and acquisitions ( M&amp, A) and private equity transactions across Asia and the US, with a focus on complex and innovative transactions, including capital raising platforms, joint ventures and club deals, portfolio restructuring and exits.

Her exercise spans the administrative real property, technology/e-commerce, life sciences and customer industries. Over the past” several” years, Tang has led transactions worth over$ 35 billion in aggregate, according to the media release. &nbsp,

Ang has experience with foreign cash, multinational companies and financial organizations in large cross-border personal capital, venture capital, M&amp, A, real estate, and finance purchases.

Commenting on the move, Boo Bee Chun, director and co-head of the Singapore M&amp, A process, Baker McKenzie Wong &amp, Leow, said in a declaration:” We are thrilled to welcome Shirin, Lip Kian and crew to our M&amp, A / private equity team, to which they will add more depth. The wealth of experience and strong business skills that they bring will be of substantial value to our clients given that Singapore and Southeast Asia have strong deals and development potential.

James Huang, managing director of Baker McKenzie Wong &amp, Leow, states:” Their joining is more information of our commitment to more expanding our bench strength in Singapore, whose status as a leading international financial and business hub is anticipated to continue to grow substantially in upcoming years.”

Click here for more FinanceAsia people moves. &nbsp,

¬ Haymarket Media Limited. All rights reserved.

Continue Reading

The investors punting on a Ukraine economic renaissance – Asia Times

By:
On:
In: Asia

Fincantieri—Europe’s largest builder, based in Italy’s Trieste—is slowly working to change former Ukraine government-owned shipyards in the Black Sea port of Odesa into a state-of-the-art manufacturing hub that will get to create some of the world’s most innovative business vessels.

Following its success in producing next-generation business boats for its Norway company VARD in Tulcea, Romania, the Roman company’s expansion into Odesa seems like the logical next step. Fincantieri employs some 4, 500 staff in Tulcea and Braila, near the Moldovan borders.

Tulcea on the Danube Delta, which was once a sleepy holiday destination, has since become the major transportation hub for Russian crops exports after Russia seized the Sea of Azov following its invasion of Ukraine on February 24, 2022. This is a turning point for political attention.

Tulcea has also been mentioned in the media as Russians continue to fly killer drones over the place to stymie transport. Given that Romania is a NATO and member of the European Union, drones have crossed and crashed into Italian country.

” The Danube here is in a curved S condition, so the Russian robots cross in and out of Italian territory”, said Ciprian Safca, a river boat captain and Tulcea local counsellor. &nbsp,” Russian robots today come in groups of five or so” ,&nbsp, he said. The Italian defense “decided it was much to let them go than to try to shoot them down and possibly miss one or two” according to the military.

Yet, the Russian robots have failed to soften Fincantieri’s devotion to east Romania and its programs for Odesa. &nbsp, If it goes away with a plan to build a next-generation factory in Odesa, Fincantieri may well be the largest foreign investment in Ukraine’s story.

The Fincantieri initiative may actually reach, in terms of overall investment and employees, the Neptune deep-sea corn cargo port built and operated by Minneapolis, Minnesota-based US food giant Cargill at the TIS Seaport outside of Odesa.

With an investment of US$ 150 million from the World Bank’s International Finance Corporation and the European Bank for Reconstruction and Development, the Neptune port was finished in 2018.

The United States International Development Finance Corporation ( US DFC) and the World Bank’s insurance group, MIGA, have already informed Fincantieri that they are willing to offer project finance and political risk insurance, while the US International Development Finance Corporation ( US DFC) is also willing to offer war risk insurance.

Putin’s bombs avoid damage to US interests

According to diplomatic sources, Vladimir Putin’s regime has avoided bombing the Neptune port because it would directly violate US interests.

According to Neptune employees, the cargo port has been operating at full capacity since October last year ( Neptune handles about 10 % of Ukraine’s grain production ) and has never been a target of Russian attacks.

Destroyed Odesa ( formerly Kempenski ) Hotel at the port of Odesa. Photo: Odessa Journal

While Putin may be reluctant to hit Cargill, he has targeted Neptune’s Odesa-based developer, Andrey Stavnitser, by obliterating its 19-story hotel on the Odesa harbor in a September 25, 2023, missile attack.

No one guards an empty bank, as emerging market experts love to point out, and neither strategy is used to protect valuable assets. Fincantieri is also a major naval defense contractor despite being best known for building gargantuan cruise ships for the likes of Carnival.

Fincantieri recently acquired from Italian defense company Leonardo an “underwater armaments systems” company, Whitehead Alenia Sistemi Subacquei S. p. A., which is reportedly capable of protecting the port of Odesa from Russian submarines, naval drones, and torpedoes.

According to this reporter, US Army Major General Timothy Brown of the Army Intelligence and Security Command and US Navy Vice Admiral Karl Thomas, the deputy chief of naval operations for information warfare, agreed that Fincantieri’s civilian and military capabilities for Odesa are crucial for Ukraine and the region.

YouTube video

]embedded content]

Deputy Chief of Naval Operations for the US Navy, Maj. Gen. Gregory Gagnon, deputy director for combat support for the USMC BGen William Wilburn, Jr., and US Navy Deputy Chief of Naval Operations for the US Navy, Vice Admiral Karl Thomas, were recorded by Capitol Intelligence/C I Ukraine using CI Glass to discuss the challenges facing Ukraine during the Service Intelligence Priorities Plenary Session of the AFSEA and INSA Intelligence and National Security Summit in Bethesda

As evidenced by the ongoing conflict in Ukraine, there is a heated debate in Washington about how seemingly ineffective major US defense contractors are at providing war material on a” just in time” basis rather than a” just not in time” basis.

However, US Secretary of the Navy Carlos del Toro, among the most committed US civilian-military leaders to Ukraine’s military victory over Russia, understands the importance of private sector investment to the country.

US Secretary of the Navy Carlos Del Toro ( left ) with Ukraine Naval Attache at the US Naval Academy in Annapolis, Maryland. Photo: PK Semler Credit: PK Semler

Odesa, it appears, will continue to play an even more significant role in the future as the US plans to relocate a sizable portion of its military to a military installation in Constanta, the Romanian Black Sea port, which is located 124 kilometers south of Tulcea.

Fincantieri’s plans are undoubtedly in the public’s interest. Sergii Marchenko, the country’s finance minister, is currently pushing an aggressive program of privatizing state-owned assets to liberalize the Ukrainian economy and reduce its obligations to foreigners, particularly those owed by state-owned enterprises.

Fincantieri and Cargill and Dubai’s DP Port, both of which are owned by foreign companies, raise hopes of an economic revival in Odesa that has n’t been seen since it became a free port between 1819 and 1859, when wealthy merchants and exporters have made the city one of Europe’s most cosmopolitan.

The likes of Stephen Schwarzman, the co-chairman and co-founder of US private equity giant Blackstone Inc., and Carlyle Group co-founder and co-chairman David Rubenstein are currently playing the role of distant wealthy merchants. In Davos, Volodymyr Zelensky and Volodymyr Zelensky, two international business leaders, met last January.

In a second Trump presidency, Schwarzman is expected to be appointed US commerce secretary, and Rubenstein could be US Treasury Secretary or Secretary of State if Kamala Harris wins the election.

Schwarzman has already directed his staff to target investment into Ukraine’s private sector companies, such as video cloud gaming giant Boosteroid. Rubenstein, meanwhile, has leveraged his considerable political and economic influence to rally support for Ukraine among US and world leaders.

There are currently rumors on Wall Street that KKR and Co co-founder Henry Kravis may be preparing a takeover offer for VEON, the$ 2 billion NASDAQ-listed company that owns Ukraine’s largest mobile phone operator, Kyivstar.

The potential KKR move, which has been welcomed by Ukraine and G7 members, would effectively remove a VEON minority investor, Russian oligarch Mikhail Fridman, from the business and Ukraine.

Paul Singer, the principal of activist hedge fund Elliott Management, is also reportedly looking to invest in VEON. At the time of writing, VEON Chairman Augie K. Fabela and VEON independent board member Mike Pompeo, a former US Secretary of State, did not respond to the request for comment.

The Russian fleet has been effectively pushed out of the Black Sea by Ukraine, which is reminiscent of the 1920 Bolsheviks ‘ decision to send the Tsarist fleet to Bizerte, Tunisia. However, new foreign investment from companies like Fincantieri, Blackstone, Carlyle, and KKR could help transform the war-torn country into a new European hub in the near future.

Peter K Semler ([email protected] ) is the chief executive editor and founder of&nbsp, Capitol Intelligence. Previously, he was the Washington bureau chief for Mergermarket. He reported this story from Odesa, Ukraine, and Tulcea, Romania.

Copyright Capitol Intelligence Group – Turning Swords into Equity ® is the title of this article. An edited version is published here with permission.

Continue Reading

FinanceAsia Achievement Awards 2024: entries are now open | FinanceAsia

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

FinanceAsia’s annual Achievement Awards recognises excellence in bringing together those issuers, banks, investors, advisors and other market participants, who are working hard to develop and expand Asia Pacific’s (Apac) financial markets.

This year, for the first time, we are also looking to recognise excellence in the fast-growing markets of the Middle East.

We are looking to recognise the standout companies and strategies that are redefining the way issuers and investors are interacting with markets and adapting to evolving regulatory requirements and diverse needs, amid an increasingly competitive environment.

There are both Deal awards and House awards across a range of categories and markets. For more details please see here for Apac and here for the Middle East. 

In addition, our Deal Maker Poll rewards individuals who have been instrumental in closing some of the region’s most ambitious deals over the last 12 months.

The timeline for the deals is October 1, 2023 to September 30, 2024.

We look forward to your participation and seeing your entries! Please click here to find out how to enter at our dedicated Awards website. For frequently asked questions click here and for list of our experienced judges see here. 

Key dates: 

August 19: Awards’ launch

Early-bird entry deadline: September 6, 2024

Main entry deadline: September 19, 2024 

Entries’ evaluated by judges: October 2 to November 6, 2024 

Winners’ announced: November 2024 

Awards’ ceremony: February 2025, date TBD  


¬ Haymarket Media Limited. All rights reserved.

Continue Reading

Platinum Equity buys controlling stake in Inventia Healthcare’s OSD arm | FinanceAsia

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

From Invascent’s India Life Sciences Fund III, New York Life Investment Management Jacob Ballas India Fund III, and affiliates of the company’s founding Shah family, US private equity firm Platinum Equity has acquired a controlling stake in the core Oral Solid Dosage ( OSD ) business.

A majority stake in Inventia is still owned by the Shah home. Invengene and Nutriventia, the injectables and nutraceuticals companies, respectively, are certainly part of the transaction and are being retained differently by the Shah home, according to an August 30 press release. &nbsp,

The acquisition’s financial details and the stake’s length were not made public.

Inventia, which has its headquarters in Mumbai, was cofounded in 1985 by the late president and managing director Janak Shah and Maya Shah, both of whom are now senior directors. For both ordinary and value-added pharmaceuticals, Inventia has around 100 customers who supply both semi-finished and finished OSD formulas. Inventia’s colleagues include global and local medicine companies that sell in more than 40 countries across North America, South America, Europe, Southeast Asia, Middle East and Africa.

In Maharashtra, India, Inventia runs a manufacturing facility in Ambernath and a research and development center in Thane. The company’s manufacturing platform is accredited by the US Food and Drug Administration ( FDA ), the UK’s Medicines and Healthcare products Regulatory Agency ( MHRA ) and other&nbsp, regulatory authorities.

” This investment represents a significant milestone in the evolution of Inventia. We are thrilled to discover Platinum Equity’s expense in our main OSD company, said Maya Shah and the later Janak Shah in a joint statement due to Janak Shah’s new departure.

They added:” This relationship will funnel Inventia’s advantages and Platinum’s operational knowledge to force us to new levels. We are firmly committed to our vision, and we are assured that this partnership will encourage further development and innovation. Our vision for Inventia has always been to deliver high-quality, available medical items, and with Platinum Equity, we believe this vision will only increase stronger”.

The Asia funding team at Platinum Equity, based in Singapore, is tasked with leading the acquisition.

In a statement, Platinum Equity managing director Amit Sobti stated,” We believe Inventia is a solid platform for development in a fragmented industry, and our goal is to create a larger, more developed B2B firm focused on the beautiful but underprivileged emerging industry.” &nbsp,

By bringing in our operational and financial resources to further institutionalize the organization and set it up for success on a substantially greater range, Sobti continued,” We are excited to develop upon the strong base set by the Shah home.” Inventia’s existing product pipeline you generate strong healthy growth over the near future, which we will look to enhance through acquisitions, with an emphasis on broadening the company’s product portfolio and capabilities”.

Kotzubei stated that Platinum Equity will continue to look for platform deals in India that are appropriate for the company’s investment strategy in addition to looking for Inventia add-ons.

There are more opportunities available today that fit our approach, he explained, and the buyout market in India is continuing to evolve. ” There are more mature businesses with a greater need for operational support, including founders or family-owned businesses looking for a partner who can provide both operational expertise and capital. We have a lot of experience in those situations”.

Platinum Equity’s exclusive financial advisor on the transaction was Barclays. Trilegal and Lacham Watkins acted as India legal counsel for Platinum Equity while Austin Watkins was their international attorney. Kirkland &amp, Ellis provided financing counsel to Platinum Equity on the transaction.

Rothschild &amp, Co and Stifel Nicolaus India ( formerly Torreya Partners ) served as financial advisers to the sellers. Quillon Partners provided legal counsel to the sellers during the transaction.

FinanceAsia has reached out for more information.

¬ Haymarket Media Limited. All rights reserved.

Continue Reading

Platinum Equity buys controlling stake in Inventia Healthcare | FinanceAsia

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

Invascent’s India Life Sciences Fund III, New York Life Investment Management Jacob Ballas India Fund III, and affiliates of the company’s founding Shah family have all acquired controlling stakes in Inventia Healthcare’s core Oral Solid Dosage ( OSD ) business from private equity firms Invascent’s India Life Sciences Fund III, New York Life Investment Management Jacob Ballas India Fund III, and other companies.

A majority stake in Inventia is still owned by the Shah home. Invengene and Nutriventia, the injectables and nutraceuticals companies, respectively, are certainly part of the transaction and are being retained differently by the Shah home, according to an August 30 press release. &nbsp,

The size of the play or the financial terms of the merger were not made public.

Inventia, which has its headquarters in Mumbai, was co-founded in 1985 by the late president and managing director Janak Shah and Maya Shah, both of whom are now senior directors. For both ordinary and value-added pharmaceuticals, Inventia has around 100 customers who supply both semi-finished and finished OSD formulas. Inventia’s companions include global and local medicine companies that sell in more than 40 countries across North America, South America, Europe, Southeast Asia, Middle East and Africa.

In Maharashtra, India, Inventia runs a production facility in Ambernath and a research and development center in Thane. The company’s manufacturing platform is accredited by the US Food and Drug Administration ( FDA ), the UK’s Medicines and Healthcare products Regulatory Agency ( MHRA ) and other&nbsp, regulatory authorities.

” This investment represents a significant milestone in the evolution of Inventia. In a combined statement released just before Janak Shah’s moving, Maya Shah and the late Janak Shah, both as business owners and long-standing administrators, we are thrilled to discover Platinum Equity investing in our main OSD business.

They added:” This relationship will funnel Inventia’s advantages and Platinum’s operational knowledge to force us to new levels. We are firmly committed to our mission, and we are assured that this partnership will encourage more development and innovation. Our vision for Inventia has always been to deliver high-quality, available medical items, and with Platinum Equity, we believe this vision will only increase stronger”.

The Singapore-based Asia funding team at Platinum Equity is in charge of the acquisition.

In a statement, Platinum Equity managing director Amit Sobti stated,” We believe Inventia is a solid platform for development in a fragmented industry, and our goal is to create a larger, more developed B2B firm focused on the beautiful but underprivileged emerging industry.” &nbsp,

By utilizing our operational and financial resources to further institutionalize the company and prepare it for success on a substantially larger scale, Sobti continued,” We are excited to develop upon the strong base set by the Shah home.” Inventia’s existing product pipeline you generate strong healthy growth over the near future, which we will look to enhance through acquisitions, with an emphasis on broadening the company’s product portfolio and capabilities”.

Kotzubei stated that Platinum Equity will continue to look for program offers in India that are appropriate for the company’s investment strategy in addition to looking for Inventia add-ons.

There are more possibilities available now that fit our approach, he explained, and the buyout market in India is continuing to develop. ” There are more mature businesses that require more operating support, such as founder- or family-owned businesses that are looking for a partner with the ability to provide both operating expertise and capital. We have a lot of knowledge in those conditions”.

Silver Equity acted as Barclays ‘ special financial advisor during the transaction. Along with Trilegal as India’s constitutional representative for Platinum Equity, Lacham Watkins served as Trilegal’s global legal counsel. Kirkland &amp, Ellis provided financing guidance to Platinum Equity on the exchange.

Rothschild &amp, Co and Stifel Nicolaus India ( formerly Torreya Partners ) served as financial advisers to the sellers. Quillon Partners provided constitutional lawyers to the buyers during the transaction.

FinanceAsia has reached out for more details.

¬ Capitol Media Limited. All rights reserved.

Continue Reading

AI chip giant Nvidia’s shares sink despite record sales of bn

By:
On:
In: Asia

Nvidia, the maker of artificial intelligence ( AI ) chips, reported that its revenues for the three months leading up to July exceeded the previous year’s record of$ 30 billion ( £24.7 billion ).

However, the agency’s shares fell by more than 6 % in New York after the announcement.

Nvidia’s stock market value increased by more than$ 3tn, making it one of the biggest beneficiaries of the AI boom.

The agency’s shares have risen by more than 160 % this year alone.

According to Matt Britzman, top equity analyst at Hargreaves Lansdown, “it’s less about merely beating estimates then, as markets expect them to become shattered, and the size of the defeat today looks to have disappointed a little.”

The company’s pricing, which has increased tenfold in value in less than two years thanks to its supremacy of the AI device market, is driving the sky-high expectations.

Profits for the period soared, with operating income rising 174 % from the same time last year to$ 18.6bn.

Nvidia overtook researchers ‘ objectives for both sales and profits for the seventh consecutive quarter.

” Generative AI will revolutionise every market”, said Nvidia chief executive Jensen Huang.

The outcomes have grown to a weekly event that causes Wall Street to go through a flurry of stock purchases and sales.

A “watch party” had been planned in Manhattan, according to the Wall Street Journal, while Mr Huang, famed for his signature leather jacket, has been dubbed the “Taylor Swift of tech”.

Alvin Nguyen, senior researcher at Forrester, told the BBC both Nvidia and Mr Huang have become the” face of AI”.

This has helped the company thus much, but it could also hurt its assessment if AI fails to deliver, according to Mr. Nguyen, despite the fact that businesses have invested billions of dollars in the technology.

” A thousand use cases for AI is not enough. You need a million”.

Mr Nguyen even said Nvidia’s first-mover benefit means it has market-leading materials, which its users have spent years using and has a” program ecosystem”.

He said that competitors, such as Intel, was” device ahead” at Nvidia’s market share if they developed a better solution, though he said this would take time.

Continue Reading