EQT Private Capital Asia agrees .1bn deal for PropertyGroup Guru; seeks .5bn fundraise | FinanceAsia

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PropertyGuru Group, a leading property technology company in Southeast Asia ( SEA ), has been purchased by Hong Kong-based EQT Private Capital Asia for$ 1.1 billion in cash.

In support of the merger, TPG ( through TPG Asia VI SF and TPG Asia VI SPV, in its capacity as general partners of TPG Asia VI Digs ), which owns around 26.5 %, and KKR ( through Epsilon Asia Holdings II ), which owns around 29.6 % of the firm, have entered into voting and support agreements with the business and EQT Private Capital Asia.

PropertyGuru’s board of directors, acting upon the advice of a particular commission, unanimously approved the deal and recommends acceptance of the acquisition by PropertyGuru’s owners, according to an August 16 news.

The offer is equal to$ 6.70 per share and represents a 52 % premium to PropertyGuru’s closing share price on May 21, 2024, the last unaffected trading day prior to media speculation regarding a potential transaction, and a 75 % and 86 % premium to the company’s 30-day and 90-day volume-weighted average share price, respectively, for the period ending May 21, 2024, the announcement said. &nbsp,

The deal is expected to close in Q4 2024 or Q1 2025, subject to final problems, including acceptance by PropertyGuru’s shareholders and certificate of regulatory approvals.

Upon completion of the transaction, PropertyGuru’s shares will no longer trade on the New York Stock Exchange ( NYSE), and PropertyGuru will become a private company. PropertyGuru’s office will be in Singapore.

 

Freshfields Bruckhaus Deringer acted as the specific committee’s legal counsel, and Moelis &amp, Company is its financial advisor. Ropes &amp, Gray is acting as legal counsel to EQT Private Capital Asia, and Morgan Stanley Asia ( Singapore ) serves as financial advisor to the company. Latham &amp, Watkin is KKR and TPG’s legal advisor, and JP Morgan Securities Asia Private is their financial director.

 

PropoertyGuru Group has a consolidation program with members of BPEA Private Equity VIII, a purpose-driven international investment company, in order to have the business acquired by EQT Private Capital Asia. &nbsp,

 

Progress potential&nbsp,

 

The company founded in 2007 and has a modern home platform across Singapore, Malaysia, Vietnam and Thailand. In a special purpose acquisition ( SPAC ) agreement with Bridgetown 2 Holdings, which Richard Li and Peter Thiel supported, it was listed on the NYSE in March 2022. &nbsp,

Hari Krishnan, chief executive officer &amp, managing director, PropertyGuru Group, said in a statement,” We are pleased to embark on this new chapter with EQT. This agreement comes after decades of transformative growth, which TPG and KKR have supported, making us the industry’s top proptech platform.

Krishnan added:” As we continue to innovate and provide value to our consumers, customers, and stakeholders across the place, EQT’s international experience in building marketplaces and commitment to sustainable development will further improve our perception to power communities to live, function, and thrive in tomorrow’s cities”.

” PropertyGuru has firmly established itself as the leading property marketplace platform in Lake, and we are greatly impressed by the solid foundation it has built over the past 17 times as well as its brilliant staff,” said Janice Leow, companion in the EQT Private Capital Asia advisory group and nose of EQT Private Capital SEA.

Leow continued,” We think our offer strategically positions PropertyGuru to fully exploit its long-term growth potential while offering shareholders compelling value and certainty.” With EQT’s significant experience in the technology, online classifieds and marketplace sectors, we aim to further strengthen PropertyGuru’s platform, driving enhanced innovation and deeper engagement with its consumers, customers and stakeholders”.

Buys Korean recycler, seeks$ 12.5bn raise

For an undisclosed sum, EQT Infrastructure VI purchased a KJ Environment from Genesis Private Equity. According to a media release, the goal is to establish” a sclaed and diversified end-to-end waste treatment scheme platform focused on plastic recycling and waste-to-energy in South Korea.” &nbsp,

KJ Environment works across recyclable waste sorting, plastic recycling and waste-to-energy. It has locations in the Greater Seoul Metropolitan Area, which provide services to catchment areas that account for more than 50 % of the nation’s GDP and population.

The purchase is EQT’s second infrastructure investment in South Korea.

Sang Jun Suh, a partner in the EQT infrastructure advisory team, stated:” We look forward to applying EQT’s extensive experience investing in sustainable waste and recycling solutions across geographies, combined with our strong local footprint and industrial network, to help KJ Environment become a true market leader in the waste treatment space.

The Platform strengthens EQT’s track record of supporting infrastructure companies in the Asia Pacific region by expanding its global portfolio of businesses that conduct waste-related business. Since 2020, EQT Infrastructure has invested €5 billion ($ 5.52 billion ) of equity, including co-investment, in Asia Pacific companies. Around 11, 000 people work in the Asia Pacific portfolio that is managed by EQT’s infrastructure team.

The transaction is subject approvals and&nbsp, is expected to close in Q4 2024. EQT was advised by JP Morgan on financials, Kim &amp, Chang for legal, and PwC for financial and tax.

With this transaction, EQT Infrastructure VI is expected to be 45-50 % based on target fund size and subject to customary regulatory approvals.

Meanwhile, EQT is looking to raise around$ 12.5 billion for EQT Private Capital Asia’s BPEA Private Equity Fund IX. &nbsp,

 

¬ Haymarket Media Limited. All rights reserved.

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How protectionism helps, not hurts, developing nations – Asia Times

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State action has made a comeback. Says have, in one way or another, usually intervened in markets to produce specific industries and drive innovation. However, there has been a enlightenment since the 2010s, particularly in terms of trade and business plan.

There are many causes of this. Leading causes include the global financial crisis of 2007-2008, the rise in political tensions, and efforts to strengthen local manufacturing in the midst of supply chain disruptions.

Alongside the return of condition intervention, specialists are chiming in on what state-led development strategies may look like. They show different things, but one piece of advice is recurring: these techniques need to incentivize export and shy away from isolationism.

Institutions are right to focus on imports. But the history about isolationism is more complicated. In reality, in most cases of successful business and business plan, a drive for imports has been combined with elements of isolationism.

South Korea and Taiwan are great examples. These countries transformed their economies from low-income to high-income at lightning speed, needing only 30 years to do so ( from roughly 1960 to 1990 ).

They achieved this feat through meticulously crafted laws, and export-orientation was a key element. In a statement in 1965, the South Korean president, Park Chung-hee, called imports” the economic backbone” of the country. But isolationism was extremely important.

Items with exceptionally large trade growth were frequently subject to emergency tariffs. A number of secret protectionist measures were employed in addition to this fairly obvious measure. For instance, a number of unique regulations requiring buy authorization from a government agency almost always required this.

When attempts were made to buy non-essential items like golf clubs, whisky, and European wine, taxes that were frequently applied were also frequently imposed. They were often labelled as schooling taxes, defense tax or basically” special” tax.

Mercantilist policies were more prominent in Taiwan than in South Korea. Nearly half of the items in the tax deadline still had transfer tax rates of over 40 % in the middle of the 1970s.

And, as in South Korea, Taiwan applied a range of non-tariff restrictions. These included the tying of trade licenses to export performance, regulations on where and from whom goods may be made, and “approval” mechanisms for trade power.

In essence, this meant that a research check had to be conducted for businesses looking to buy particular products to make sure that domestic suppliers could n’t compete with the would-be supplier on price, quality, and distribution.

A journey also lit

South Korea and Taiwan were not doing something utterly book by using protectionist measures to prevent excessive buy development and protect private companies from competitors.

The US is actually the most mercantilist nation in human history. Throughout the 19th century, it had the highest average tax rates on imported goods, a time when the nation began to develop into a worldwide economic superpower.

Another excellent illustration of incorporating isolationism into the design of business and industry legislation is China in the 1990s and 2000s. Yet, it was a form of isolationism that looked somewhat different.

China relied greatly on foreign funding to support its production, which was effectively accomplished by luring multinational corporations to form joint ventures with Taiwanese state-owned enterprises. This increased the likelihood of transferring tech and, eventually, putting imported goods into Chinese hands.

Ultimately, China’s state-led modernization strategy has been enormously successful. Now, almost all manufactured goods can be traced to manufacturing operations in China, which dominates many global business.

While protectionism may be essential to successful financial growth, a few problems still need to be addressed.

Second, protectionist measures like levies have no guarantee of being successful. The 1950s and 1960s, for example, saw institutions across Africa and Latin America protect private firms from outside competition. The goal was to establish a local industrial base, but the businesses generally failed to compete on the global stage.

That said, export subsidies ( and state intervention more broadly ) have no guarantee of working either. Does this suggest we should drain all state action? Of course it does n’t. State action, including protectionism, is possible, but failure without any condition intervention is a guarantee.

One way to consider professional and business plan is that it’s like endeavor capital: all policies may be evaluated like a portfolio, where a small number of effective bets will cover all the failures.

Second, can all countries be protectionist at the same time? Most likely not, which is why people are concerned about trade wars. In fact, China and the US are currently witnessing this.

The playing field for economic competition needs to be level in a world where nation states can retaliate against one another with things like tariffs and as long as the global economy is organized and where economic competition between firms and nation states remains a pillar of how it is organized.

Right now, it is n’t level. It favors the most powerful and wealthy nations and the multinational corporations that are based there.

This is why, in international trade agreements, lower-income countries should be allowed more space in their design of economic development policy— including, but not limited to, protectionist policies.

Simply put, a larger policy toolbox should be provided for nations that are technologically lagging. This would give lower-income countries a better chance of catching up with high-income countries. And if we want to take one lesson from economic history, it’s that protectionist policies are essential for catching up.

Jostein Hauge is a University of Cambridge assistant professor of development studies.

The Conversation has republished this article under a Creative Commons license. Read the original article.

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PropertyGuru Group’s board agrees .1bn sale to EQT Private Capital Asia | FinanceAsia

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In: Asia, Finance, South-East Asia

PropertyGuru Group, a leading property technology company in Southeast Asia ( SEA ), has been purchased by Hong Kong-based EQT Private Capital Asia for$ 1.1 billion in cash.

In support of the merger, TPG ( through TPG Asia VI SF and TPG Asia VI SPV, in its capacity as general partners of TPG Asia VI Digs ), and KKR ( through Epsilon Asia Holdings II ), have entered into voting and support agreements with the business and EQT Private Capital Asia.

PropertyGuru’s board of directors, acting upon the advice of a particular commission, unanimously approved the deal and recommends acceptance of the acquisition by PropertyGuru’s owners, according to an August 16 news.

The offer is equal to$ 6.70 per share and represents a 52 % premium to PropertyGuru’s closing share price on May 21, 2024, the last unaffected trading day prior to media speculation regarding a potential transaction, and a 75 % and 86 % premium to the company’s 30-day and 90-day volume-weighted average share price, respectively, for the period ending May 21, 2024, the announcement said. &nbsp,

The deal is expected to close in Q4 2024 or Q1 2025, subject to final problems, including acceptance by PropertyGuru’s shareholders and certificate of regulatory approvals.

Upon completion of the transaction, PropertyGuru’s shares will no longer trade on the New York Stock Exchange ( NYSE), and PropertyGuru will become a private company. PropertyGuru’s office will be in Singapore.

 

Freshfields Bruckhaus Deringer acted as the unique committee’s legal counsel, and Moelis &amp, Company is its financial advisor. Ropes &amp, Gray serves as EQT Private Capital Asia’s legal advisor, and Morgan Stanley Asia ( Singapore ) serves as its financial advisor. Latham &amp, Watkin is KKR and TPG’s legal advisor, and JP Morgan Securities Asia Private is their economic director.

 

The PropoertyGuru Group intends to combine with members of BPEA Private Equity VIII, a purpose-driven international funding company, in order to be acquired by EQT Private Capital Asia. &nbsp,

 

Growth 

 

The company founded in 2007 and has a modern home platform across Singapore, Malaysia, Vietnam and Thailand. It signed a particular goal consolidation agreement with Bridgetown 2 Holdings, led by Richard Li and Peter Thiel, in March 2022 and was listed on the NYSE. &nbsp,

Hari Krishnan, chief executive officer &amp, managing director, PropertyGuru Group, said in a statement,” We are pleased to embark on this new chapter with EQT. This agreement comes in the wake of centuries of transformative growth, which TPG and KKR have supported, making us the industry’s leading proptech platform.

Krishnan added:” As we continue to innovate and provide value to our consumers, customers, and stakeholders across the place, EQT’s international experience in building marketplaces and commitment to sustainable development will further improve our perception to power communities to live, function, and thrive in tomorrow’s cities”.

” PropertyGuru has firmly established itself as the leading property market system in Lake, and we are deeply impressed by the strong base it has built over the past 17 years as well as with its brilliant group,” said Janice Leow, partner in the EQT Private Capital Asia consulting team and head of EQT Private Capital SEA.

Leow continued,” We think our offer carefully positions PropertyGuru to fully exploit its long-term development possible while offering shareholders compelling value and certainty.” With EQT’s considerable knowledge in the technology, online classifieds and market sectors, we aim to further improve PropertyGuru’s platform, driving increased innovation and deeper engagement with its consumers, customers and stakeholders”.

¬ Haymarket Media Limited. All rights reserved.

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The biggest bubble is always the one that pops – Asia Times

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In: Asia

Subscribe now&nbsp, for access at a special price of only$ 99/year.

It’s not the renminbi carry business – it’s the Bank of Japan investment

According to David P. Goldman, new volatility in the Japanese markets suggests potential trouble. The Bank of Japan’s decision to stop tapering was a catalyst for the quick crash, but there are still important underlying challenges in both domestic and global markets.

Social paroxysm in Germany keeps the economy in collapse.

According to Diego Faßnacht, Germany is in danger of experiencing rapid economic decline as a result of the state elections scheduled for eastern Germany on September 1st, which are supposed to decide the” traffic light” coalition’s leadership. High energy costs and uncoordinated guidelines are the root causes of business collapse.

Peace is off the board with the Kursk invasion.

James Davis describes how the conflict between Russia and Ukraine substantially grew after Russian forces launched an invasion into the Kursk region of Russia, causing Russia to suffer a severe lack of intelligence as Kiev tries to distract and stretch its armies.

Kishida, the excellent minister of Japan, will resign.

In light of declining public support and a financial scandal, Scott Foster examines Japanese Prime Minister Fumio Kishida’s decision to step down as leader of the ruling Liberal Democratic Party ( LDP ). There are a number of possible candidates in the race to take his place.

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Flooding in Chiang Rai’s border markets, elsewhere

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In: South-East Asia

PUBLISHED: 18 Aug 2024 at 13: 51

People watch flood levels in Mae Sai district of Chiang Rai on Saturday night. (Photo: Public Relations Department)
On Saturday evening, people in the Mae Sai region of Chiang Rai are watching flood amounts. ( Photo: Public Relations Department )

Late on Saturday nights, the Sai River overflowed into Mae Sai district’s border areas and areas as a result of heavy storms and torrents of liquid from the Shan State of Myanmar.

In the district’s rainy season, the brimming border river caused flooding for the third time at the local Sai Lom Joy market, and it was the second flooding that in a week. Late on Saturday nights, the business was 1.00-1.50 feet underground.

Along with the frontier business, rainwater also affects areas along the Sai River, including those in the Koh Sai-Koh Sawan and Mueang Daeng ethnic communities as well as the Mai Lung Khon business.

The Sai River overflows in addition to large weather because of water leaks from reservoir areas in Myanmar’s Shan State. Late on Saturday nights, the Tachileik town in Myanmar’s neighbor to the Mae Sai district was likewise flooded.

The Tak River overflowed into Ban Thung Chao, a tambon Pae Pao settlement, in the Phaya Mengrai area. At Wat Boonyawat in the area, the floodwaters were deeper than one meter.

Rainwater measured 120 millimeters over the course of the previous 24 hours in this northern province, according to the Office of the National Water Resources.

There was a disaster on the way to the Phu Chi Fa National Park in the Thoeng city. In Wiang Chai city, a run-off hit 15 settlements in tambon Don Sila and tambon Ha Ngam.

Four settlements in tambon Bua Salee and tambon Pa Kor Dam were overflowed by an irrigation river in the Mae Lao city. In the districts of Chiang Saen, the Kham and Kok streams flooded seven settlements in the tambon Pa Sak and tambon Sri Don Moon.

About 2, 000 communities in Chiang Rai were impacted by the floods, according to the local office of the Department of Disaster Prevention and Mitigation, and the flood may stop in a few days unless rains continue.

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Flooding hits Chiang Rai’s border markets, villages

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In: South-East Asia

PUBLISHED: 18 Aug 2024 at 13: 51

People watch flooding in Mae Sai district of Thailand's Chiang Rai province on Saturday night. (Photo: Public Relations Department)
On Saturday evening, people in the Mae Sai area of Thailand’s Chiang Rai province watch inundation. ( Photo: Public Relations Department )

Late on Saturday nights, heavy rain and torrents of liquid from Myanmar’s Shan State flooded into border areas and populations in Mae Sai area.

The local Sai Lom Joy market was flooded for the third time this year and the third time in a month due to the overflowing border river. Late on Saturday nights, the business was 1.00-1.50 feet underground.

Apart from the border business, rainwater even hit areas along the Sai River, including Koh Sai-Koh Sawan and Mueang Daeng areas, as well as Mai Lung Khon business.

The Sai River overflows due to heavy weather and water gushing from Shan State catchments in Myanmar. Late on Saturday night, the Tachileik city in Myanmar, located across the river from the Mae Sai district, was likewise flooded.

The Tak River overflowed into Ban Thung Chao town in the tambon Pae Pao district in Phaya Mengrai area. Wat Boonyawat’s rainwater was deeper than one meter.

Rainwater measured 120 millimeters over the course of the past 24 hours in this state, according to the Office of National Water Resources.

On the way to Phu Chi Fa National Park, a flood occurred in the Thoeng city. In Wiang Chai area, run-off hit 15 settlements in tambon Don Sila and tambon Ha Ngam.

An water canal overflowed into four settlements in the Mae Lao city of tambon Bua Salee and tambon Pa Kor Dam. In tambon Pa Sak and tambon Sri Don Moon, the Kham and Kok river overflowed into seven settlements in the Chiang Saen area.

About 2, 000 homes in Chiang Rai were affected by floods, according to the department’s regional office for catastrophe prevention and reduction. Flooding may end in a few days unless storms continued, it said.

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Conservatives flex political muscle

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Thaksin Shinawatra speaks to reporters with his daughter Paetongtarn (right) standing beside him at his residence on his birthday, July 24. (Photo supplied)
At his home on July 24th, Thaksin Shinawatra speaks to reporters while his daughter Paetongtarn ( right ) is sat next to him. ( Photo supplied )

According to a political analyst, the choice to nominate Pheu Thai leader Paetongtarn Shinawatra as the new prime minister indicates that Thaksin Shinawatra, the party’s de facto leader, will go to great lengths to rebuild a support base in order to defeat the People’s Party ( PP ) in the face of opposition.

Commonly seen as socially inexperienced, Ms Paetongtarn, 37, on Friday won enormous assistance from the House of Representatives to achieve Srettha Thavisin, who was removed from office by the Constitutional Court.

Pheu Thai joined the traditional parties last year to form a government, a resurrection of the liberal Move Forward Party that was disbanded on August 7.

Direct problem

Stithorn Thananithichot, director of the Office of Innovation for Democracy at the King Prajadhipok’s Institute, said Ms Paetongtarn’s rise to power suggests the traditional camp is sticking to its method of countering the main opposition group, but this time without relying on a proxy.

On Wednesday night, it was reported that senior partnership numbers agreed to nominate Chaikasem Nitisiri, 75, a previous justice minister and attorney-general for the position at the meeting at Thaksin’s Ban Chan Song La house on Charan Sanitwong Road in Bangkok.

But, on Thursday the Pheu Thai executive committee selected Ms Paetongtarn as the group’s member.

This is Pheu Thai’s last opportunity, according to Mr. Stithorn, to resurrect assistance among voters and gain ground lost. However, if the group fails, it might no longer be seen as the party’s best option in the social conflict with the PP, and a new plan will be required.

” This move may operate. Additionally, the government will have to tread yet more carefully, particularly when dealing with issues that could lead to legal pitfalls. It’d be healthier not to infuriate the liberal camp”, he said.

Additionally, according to Mr. Stithorn, the political climate will become more intense starting with high expectations, particularly given the appointment of a Shinawatra home prime minister.

The fight will be fierce as regional elections are in hand, and events will use this opportunity to gain more support ahead of the upcoming general election, he said.

Following Thaksin and his girlfriend Yingluck, Ms. Paetongtarn becomes the second Shinawatra household member to hold the position. Thaksin’s brother-in-law Somchai Wongsawat even served as prime minister recently in 2008.

” They must counter the popularity ]of the PP] and retain support from Ban Yai, or political families. We can expect powerful politics in the local elections due to the fierce competition between the PP, Bhumjaithai Party, and Pheu Thai,” said Mr. Stithorn.

Stithorn: Republicans want to store PP

Stithorn: Republicans want to store PP

Weak criticism

Ms. Paetongtarn is viewed as a” safe” choice in the current political climate, where the opposition is weak and in transition, according to a source from the Chartthaipattana Party.

Additionally, the newly disbanded MFP’s 44 former MPs who supported a bill to amend Section 112 of the Criminal Code, known as the lese majeste law, are being investigated by the National Anti-Corruption Commission ( NACC).

The source claimed that it is time to work and select the most suitable candidate for the championship when the opposition is perceived as poor.

With Ms Paetongtarn in office, her vital man may become none other than the “former leader”– implied to be Thaksin– and a new approach is required, he added.

Pushing Ms Paetongtarn into the perfect leader’s status signals the fight against the Women’s Party will be a high-stakes battle, said the source.

A source said that Mr. Anutin is unlikely to lead the liberal tent at this time in the capacity of the head.

According to Adisorn Piengkes, an MP from the Pheu Thai list, both the state and the opposition has reevaluate their strategy because both have just experienced political setbacks. He referred to the court rulings that removed Mr. Srettha from office only one week apart.

He praised the party leader’s abilities and potential, saying that her advice from her parents and party figures would help her wind any political turbulences.

Mr. Adisorn stated that the group did not intend to engage in political hostility with the PP when nominating its chief for excellent minister, but rather to uphold the pledge made during the election campaign.

He added Mr Paetongtarn may help shore up the group’s reputation.

When asked about the party’s premier digital wallet policy, he claimed the new government would make a decision and that he hoped it would be just as significant as the ubiquitous healthcare program.

Adisorn: Displays trust in Paetongtarn

Adisorn: Displays trust in Paetongtarn

Good indicators

The Thai Chamber of Commerce (TCC ) applauded the decision to nominate Ms. Paetongtarn because it could help to restore confidence in the nation and, as soon as the legal process is finished, it could increase that confidence as soon as the process is finished.

According to Sanan Angubolkul, president of the Thai Chamber of Commerce, the prime minister’s time does not factor into whether she can show management and the ruling party has the tools to put plans into practice.

He added that the private business wants to see the coalition government under her leadership work more collaboratively to maintain stability and harmony. The TCC likewise provided vital areas for the authorities to concentrate on in the near future.

First of all, the state needs to maintain the balance of the Thai baht, which will help to increase the growth of the tourism industry and raise the trade sector’s security.

To reach the target of 36 to 37 million customers, it is crucial to maintain the speed of tourist arrivals. This can be accomplished by introducing new tourist destinations, improving health, and implementing a strategy to market investments in 10 pilot regions.

Other priorities include launching measures to ease financial hardship, launching new markets, and protecting producers from an flow of cheap goods from abroad, among others.

Mr. Sanan also urged the new administration to carry out the Srettha administration’s trade and investment plans. He suggested that a particular department be tasked with monitoring plans.

He added that the government may continue to support the smooth power plan and support initiatives that will boost the economy. He added that improving the country’s labor skills would help it attract opportunities for online systems, lower energy costs, and repeal outdated laws that would otherwise prevent investments.

Thailand’s GDP is growing at an average price of about 2 %, which is below its potential. According to Mr. Sanan, the state needs a method- and long-term plan to increase GDP rise to at least 3 to 5 % in order to solve this.

Sanan: New PM's period does not matter

Sanan: New PM’s period does not matter

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Thai conservatives flex political muscle

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Thaksin Shinawatra speaks to reporters with his daughter Paetongtarn (right) standing beside him at his residence on his birthday, July 24. (Photo supplied)
At his home on July 24th, Thaksin Shinawatra and his daughter Paetongtarn ( right ) are pictured together as they speak to reporters at his birthday. ( Photo supplied )

According to a political analyst, the choice to nominate Pheu Thai leader Paetongtarn Shinawatra as the new prime minister indicates that Thaksin Shinawatra, the party’s de facto leader, will go to great lengths to rebuild a support base in order to defeat the People’s Party ( PP ) in the face of opposition.

Commonly seen as socially inexperienced, Ms Paetongtarn, 37, on Friday won enormous assistance from the House of Representatives to achieve Srettha Thavisin, who was removed from office by the Constitutional Court.

Pheu Thai joined the traditional parties last year to form a government, a resurrection of the democratic Move Forward Party that was disbanded on August 7.

Direct problem

Stithorn Thananithichot, director of the Office of Innovation for Democracy at the King Prajadhipok’s Institute, said Ms Paetongtarn’s rise to power suggests the traditional camp is sticking to its method of countering the main opposition group, but this time without relying on a proxy.

On Wednesday night, it was reported that senior partnership numbers agreed to nominate Chaikasem Nitisiri, 75, a former justice secretary and attorney-general for the best position. They met at Thaksin’s Ban Chan Song La house on Charan Sanitwong Road in Bangkok.

But, on Thursday the Pheu Thai executive committee selected Ms Paetongtarn as the group’s member.

This is Pheu Thai’s next opportunity, according to Mr. Stithorn, to gain support and gain floor that was lost. However, if the group fails, it might no longer be seen as the party’s best option in the social conflict with the PP, and a new plan will be required.

” This move may operate. Additionally, the state will need to approach problems with possible legal pitfalls with yet greater caution. It’d be healthier not to infuriate the liberal camp”, he said.

Additionally, according to Mr. Stithorn, the political climate will become more intense starting with great anticipation, particularly given the appointment of a Shinawatra home prime minister.

The challenge will be fierce as regional elections are drawing near, and parties will use this opportunity to gain more supporters ahead of the upcoming general election, he said.

Following Thaksin and his girlfriend Yingluck, Ms. Paetongtarn is the second Shinawatra family member to hold the position. Thaksin’s brother-in-law Somchai Wongsawat even served as prime minister recently in 2008.

” They must counter the popularity ]of the PP] and retain support from Ban Yai, or political families. We can expect powerful politics in the local elections due to the fierce competition between the PP, Bhumjaithai Party, and Pheu Thai,” said Mr. Stithorn.

Stithorn: Republicans want to shop PP

Stithorn: Republicans want to shop PP

Weak criticism

In the current political climate, where the opposition is weak and in transition, Ms. Paetongtarn is viewed as a” safe” choice, according to a source from the Chartthaipattana Party.

Additionally, the newly disbanded MFP’s 44 former MPs who supported a bill to amend Section 112 of the Criminal Code, known as the lese majeste law, are being investigated by the National Anti-Corruption Commission ( NACC).

When the criticism is perceived as poor, the source said it is time to work and select the most suitable candidate for the championship.

With Ms Paetongtarn in office, her vital man may become none other than the “former leader”– implied to be Thaksin– and a new approach is required, he added.

Pushing Ms Paetongtarn into the perfect leader’s status signals the fight against the Women’s Party will be a high-stakes battle, said the source.

A source close to the source said that Bhumjaithai head Anutin Charnvirakul is improbable to take on the role of the conservative camp leader at this time.

According to Adisorn Piengkes, an MP from the Pheu Thai record, both the state and the opposition has reevaluate their strategy because both have just experienced political setbacks. He referred to the court rulings that took the MFP and Mr. Srettha out of business just one week apart.

He praised the party leader’s abilities and potential, saying that her advice from her parents and party figures would help her wind any political turbulences.

Mr. Adisorn stated that the party’s intention was to follow through with its election battle commitments more than engage in political conflict with the PP.

He added Mr Paetongtarn may help shore up the party’s reputation.

When asked about the group’s premier digital wallet scheme, he said the new government would make a decision and that he hoped it would be just as significant as the ubiquitous healthcare program.

Adisorn: Displays trust in Paetongtarn

Adisorn: Displays trust in Paetongtarn

Good evidence

The Thai Chamber of Commerce (TCC ) applauded the decision to nominate Ms. Paetongtarn because it could help to restore confidence in the nation and, as soon as the legal process is finished, it could increase that confidence as soon as the process is finished.

The Thai Chamber of Commerce’s chair, Sanan Angubolkul, claimed that the prime minister’s time does not factor into whether she can show leadership and that the ruling party has the resources to employ policies.

Under her leadership, he added, the private sector wants a more creative approach to ensuring balance and unity. The TCC likewise provided vital areas for the authorities to concentrate on in the near future.

First of all, the state needs to maintain the balance of the Thai baht, which will help to increase the growth of the tourism industry and raise the trade sector’s security.

To reach the 36 to 37 million visitor goal, it is crucial to maintain the speed of tourist arrivals. This can be accomplished by introducing new tourist destinations, improving health, and pursuing a strategy to market investments in 10 captain regions.

Other priorities include launching measures to ease financial hardship, launching new markets, and protecting producers from an flow of cheap goods from abroad, among others.

Mr. Sanan also demanded that the new administration carry out the Srettha government’s initiatives to increase business and draw in foreign investors. He suggested that a particular department be tasked with monitoring plans.

He added that the government may continue to support tasks that will boost the economy and advance the soft power mission. He added that the nation needs to improve its labor skills in order to attract opportunities in modern technology, lower energy costs, and update archaic laws that prevent investments.

Thailand’s GDP is growing at an average price of about 2 %, which is below its potential. According to Mr. Sanan, the state needs a moderate- and long-term plan to increase GDP rise to at least 3 to 5 % in order to solve this.

Sanan: New PM's period does not matter

Sanan: New PM’s period does not matter

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China to restrict exports of strategic metal antimony – Asia Times

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In: Asia

In response to Beijing’s ongoing trade war with the West, China may hinder shipments of antimony for national security reasons. The mercantilist estimate will become effective on September 15.

According to trading CICC, the gleaming white metalloid’s main software is as a fire retardant, which accounted for roughly half of global use in 2023. Around 20 % is used to produce renewable cup to improve the performance of solar cells, with the remainder used in lead-acid batteries, the Reuters statement said.

Antimony is also used as a softening agent for guns and tanks as well as in defense equipment like thermal rockets, nuclear weapons, and night vision glasses.

In a statement released on Thursday ( August 15 ), the Chinese Ministry of Commerce (MC) and the General Administration of Customs stated in a statement that businesses need government approval to export gold-antimony separation technology, oxides and hydrides, indium antimonides, and organo-antimony compounds.

Antimony, superhard supplies, and another related items are subject to export controls, according to a MoC director in a statement.

The spokesperson claimed that imports that are in line with applicable regulations will get approved regardless of the country or region are subject to export controls. He added that the action seeks to fulfill global commitments, including those relating to non-proliferation, and protect regional security.

He claimed that the Chinese govt is opposed to any nation or region engaging in activities that violate China’s national independence, security, and development objectives. &nbsp,

But, a Guangdong-based IT journalist claims in an article published on Friday that China wants to fight against the US device restrictions by using the export settings of arsenic.

The author says China has the world’s largest arsenic reserves and manufacturing capacity, and really enjoy an advantage in developing thermal tools, high-performance communications devices, aluminium products and next-generation semiconductors. &nbsp,

He mentions that Optics Technology Holding and Qingdao Haohan Quancai Semiconductor Co Ltd have already begun producing next-generation bits made of chromium and vanadium antimonides.

According to the US Geological Survey, China has oxide deposits of 640, 000 lots, representing 30 % of the world’s total payments. That’s followed by Russia’s 350, 000 tons ( 16 % ) and Bolivia’s 310, 000 tons ( 14 % ). China accounted for 48 % of the world’s antimony supply in 2023, followed by Tajikistan at 25 % and Turkey at 7 %. &nbsp,

In the semiconductor industry, silicon is doped with a small amount of antimony using the chemical vapor deposition ( CVD ) process.

Antimony narrow films are great photodetectors. &nbsp, Trimethylstibine, an organoantimony compound, is the raw material in the metalorganic CVD ( MOCVD ) process used to make infrared light-emitting diodes ( IR LEDs ). &nbsp,

All of these elements, including those made by US defence companies Lockheed Martin and Raytheon, have been vetted by China since 2019.

Superhard elements

The MoC and Chinese Customs said China will also restrict the exports of cubic press and microwave plasma-enhanced CVD ( MPCVD ) machines, which can make synthetic diamonds and diamond coatings, respectively. &nbsp,

At high temperatures and force, square press machines can produce lab-grown diamonds. Gallium nitride ( GaN ) semiconductors with a diamond substrate, or GaN-on-diamond, are ideal for the making of high-power, high-frequency devices such as amplifiers and transmitters for military use. &nbsp,

Luoyang Qiming and Guilin Metallurgical Machinery General Factory are two of the Chinese square media producers, according to press reports. International players include Germany’s Max Voggenreiter GmbH, which has a system in Beijing. &nbsp,

Due to their high thermal conductivity, high thermal conductivity, and waters repellency, MPCVD machines are able to create stone coatings, which are vital to military detector and detector applications. In 2019, AKHAN Semiconductor, a tech company in the US, said it would use its diamonds covering technology in Lockheed Martin’s weaponry.

Already, Chinese MPCVD equipment manufacturers include Wattsine, Uniplasm, Newman-hueray Microwave Tech. WEC Superabrasives in Taiwan, Seki Diamond Systems in the US, and Iplas GmbH in Germany are just a few examples of international participants.

In August 2023, China imposed import restrictions on chromium and tungsten. Substance semiconductors made of chromium are frequently used to increase radar transmission speed and effectiveness. Germanium is used to power numerous observatories and in night vision glasses. &nbsp,

China controls about 80 % of the world’s gallium supply and 60 % of germanium, according to European industry association Critical Raw Materials Alliance ( CRMA ). &nbsp,

However, some researchers claimed in October that there were n’t any indications of a global market shortage for the two minerals. &nbsp,

Read: China racing to hoard AI-powering HBM bits

Following Jeff Pao on X: &nbsp, @jeffpao3

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Ageing society a boost for care industry

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In: South-East Asia

PUBLISHED: 17 Aug 2024 at 04: 00

According to the Trade Policy and Strategy Office ( TPSO ), the country’s ageing population is promoting the growth of the elderly care sector.

Thailand is now an aged community, according to director-general Poonpong Naiyanapakorn, who notes that the delivery rate is declining while the number of older people continues to rise.

According to United Nations ( UN) data, 13.06 million people in Thailand were aged over 60 last year, accounting for 20 % of the total population. This was an increase of 4.3 % over the past year.

Over the past ten years, the number of older people has increased by an average of 4.8 % per four times. The rise in the age of the general population has been linked to a number of components, including the rise in the number of singles, a reduction in the beginning frequency, and increased longevity as a result of advances in medicine and technology.

Mr. Poonpong claimed that the current circumstance is opening up new opportunities for different businesses, such as care homes.

According to an analysis by Zion Market Research, the world old treatment market’s value is projected to increase from US$ 1.02 trillion last year to$ 1.96 trillion by 2032.

The Asia-Pacific industry will have the biggest growth due to its growing people, advanced technologies and reputation as a retirement destination.

There were 708 nursing homes in 55 regions last year, with the number growing by 25.1 % annually on regular since 2018 according to Mr. Poonpong, adding that 887 legal institutions are operating elder care businesses in Thailand.

The Bangkok Metropolitan Region ( BMR ) offers entrepreneurs a great opportunity to enter those other markets because the majority of nursing homes are there, he said.

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