Citi appoints new Malaysia CEO

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Citi has appointed Vikram Singh as new CEO of its Malaysian business, effective from May.

A spokesperson for the bank told FinanceAsia that Singh had already relocated to Kuala Lumpur for the new role, which will see him prioritise growth across the market franchise.

In his new capacity, Singh reports to Amol Gupte, head of South Asia and the Asean region, and takes responsibility for the full suite of the bank’s activities in Malaysia. This includes oversight of the performance of Citi’s Solutions Centres in Kuala Lumpur and Penang, which support its wider banking operations in over fifty countries.

Singh has served across a number of Citi’s core divisions to date. He started his career with the bank 24 years ago working across its India-based business, in posts located in Mumbai, Bengaluru and New Delhi. Most recently, he was head of Asia Pacific Regional Account Management, managing coverage of global subsidiary clients operating in the region, from Singapore. 

A release shared with media pointed to Singh’s particular expertise leading the bank’s Corporate and Investment Banking effort in the Philippines over a period of five years, during which he devised robust business strategies that went on to achieve double-digit revenue growth.

“Vikram’s long career and experience with the firm will be invaluable in leading the next stage of growth in a market that also supports many of our global businesses and functions,” Gupte said in the announcement.

Citi established a presence in Malaysia 64 years ago. In January 2022, the bank announced plans to sell its consumer franchise in four Asean markets including Malaysia, to United Overseas Bank (UOB). The deal finalised in November 2022, bringing the bank regulatory capital benefits of approximately $1 billion. 

Offering an update on the bank’s performance in the market following the divestiture, the spokesperson told FA, “We continue to see good client activity across our institutional businesses.” He noted “good growth and client work”.

Elaborating on the current opportunities that Malaysia presents, the contact pointed to varied growth avenues across investment and corporate banking, as well as within the bank’s trade and treasury business, such as hedging.

“Across our institutional businesses from Banking, Markets and Services, we see opportunities to support both local and multinational corporate (MNC) clients further.”

The spokesperson added that the bank has recruitment plans around Singh’s appointment to support client-led growth. 

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Heatwaves threaten to reverse India’s social progress

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In: Asia

According to our original research, 90 % of Indians were at an increased risk of going hungry, losing money, or dying young in April 2022 due to record-breaking wildfires.

Excessive heat has returned earlier this year after 2022 was named the hottest in 122 years, with more than 60 % of India recording above-normal maximum degrees for April, according to the nation’s Meteorological Department. This year, El Nio, a natural climate event that can raise global temperatures, is already anticipated.

More than 1.4 billion Indians’ quality of life could be negatively impacted by the rising frequency of such devastating heatwaves, which could block or even reverse India’s headway in reducing poverty, bread and earnings security, and gender equality.

Excessive heat is expected to happen once every 30 year or so in the North Eastern continent as a natural phenomenon. This is no longer the case as a result of climate alteration caused by humans. Since 1992 together, India has lost more than 24, 000 people as a result of heatwave-related illnesses, with the most severe one occurring in May 1998, which claimed 3,058 world.

Ahmedabad’s western city experienced heatwaves in May 2010 that reached 47.8 degrees Celsius and increased heat-related hospital admissions of newborns by 43 %, making it one of the first cities in the nation to implement a heat action plan intended to direct preparations and emergency responses, which has since saved thousands of lives.

More than 2, 330 people died as a result of the 2015 heat wave, which also prompted the government department for crisis management to establish guidelines for preventing deaths during heatwaves and encourage American states to create their own plans.

India’s socioeconomic development could be stymied if these measures aren’t put into practice. Excessive heat could cost India 2.8 % and 8.7 % of its GDP by 2050 and 2100, respectively, if proper heat action plans are not developed. This is a concerning direction, especially in light of India’s ambition to reach ten trillion dollars in the economy by 2030.

A” real – feel” measurement

Only if heat action plans can accurately depict the effects of heatwaves on the whole population are they good. The government needs to understand how the general public feels in order for American authorities to identify when deadly heat is found( and emergency action is required ).

The fire index, a widely used environmental health indicator in the US, was used by the authors of this article to calculate how warm the human body is likely to look in relation to air temperature and humidity levels. This enabled us to map the vulnerability of Indians to heat waves and find that 90 % of the nation was at risk of suffering severe consequences from the heatwave last year.

It’s crucial to accurately gauge India’n susceptibility to destructive degrees. The physical risks that heat poses to human health are not taken into account by the American government’s measure, the weather vulnerability index.

Our study demonstrated that our fire score provided a” real-feel” measurement for excessive heat by combining air temperature and relative humidity levels. Or, to put it another way, how intense the fire felt for those who felt it.

Wildfires should not be underestimated.

India’s progress toward a number of sustainable development objectives may be slowed down or even reversed by underestimating the effects of intense warmth. These include issues with inequality, economic growth, technological innovation, hunger, thirst, health and well-being, and biodiversity.

This is particularly concerning given that over the past 20 years, while the frequency of extreme weather events has increased, India’s progress toward achieving these objectives has slowed.

For instance, extreme heat may intensify rainfall by drying up the soil and disrupting rainfall patterns, inevitably affecting crop production and food security and endangering the health and wellbeing of a significant portion of American society.

Millions of residual and little landholding farmers’ jobs, health, and ability to adapt and take up different livelihoods are all in danger due to productivity losses in this sector, which is primarily an agricultural economy.

Increased water – and insect-borne problems, which could further strain India’s already underfunded public health system, is another worrying trend brought on by wildfires.

Thousands of remote residents move to India’s towns each year in search of a better quality of life. However, heatwaves also have a devastating impact on the nation’s urban population.

The 2022 wildfires essentially threatened the entire city of Delhi and its 32 million residents. The majority of immigrants are compelled to relocate to the state’s poorest neighborhoods, where the effects of wildfires are especially disastrous. Unfortunately, these areas also lack the resources to purchase air conditioning that could lessen their suffering.

People in most impoverished areas of New Delhi depend on public drinking deliveries to stay cool during the summer. iStock image
People in most impoverished areas of New Delhi depend on public drinking deliveries to stay cool during the summer. iStock image

People will not be able to withstand the extreme heat seen in recent years without immediate improvements to the current methods for assessing India’s sensibility to climate change.

According to the Intergovernmental Panel on Climate Change, wildfires in South Asia will intensify and become more regular this decade. Plans for fire action may be essential in accelerating efforts to lessen and respond to the effects, but they must take into account how complex India’s climate change vulnerabilities are.

Given that 70 % of the country’s creating share has yet to be produced, it is crucial to place a strong emphasis on making Indian cities resistant to excessive heat. In the next ten years, cities will experience an explosion in population. By creating new houses that are easier to keep warm, there is a chance to include techniques for adjusting to excessive heat.

Banking, urban design, and education are required to help people adapt as more people in India are anticipated to experience even greater warmth variations in the future.

This article is republished fromThe Conversationunder a Creative Commons license. Read theoriginal article.

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Exploring the investible opportunity in life sciences & healthcare in the Asia Pacific region

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It has been a tumultuous time for the life sciences and healthcare space in the Asia Pacific region over the last three years. A post-pandemic boom saw a rapid surge in private equity buyouts in the sector through 2020 and 2021, followed by a sharp correction through last year.

However, 2023 promises to be a year in which life sciences and healthcare regains its spot among the top priorities of investors, with several macroeconomic, demographic, and digital adoption trends buoying interest.

To gain deeper insights into what the future holds for this critical sector, FinanceAsia in partnership with DFIN created the Life Sciences & Healthcare Report 2023. Our report is based on a study of the most significant recent trends in the sector so far; as well as a glimpse into what the future holds via bespoke research involving key stakeholders.

We surveyed nearly 70 investors, legal and financial advisors who are actively engaged in the space, as well as professionals operating in life sciences and healthcare companies across the APAC region, to obtain informed insights on the opportunities and challenges that come with investments in the sector.

Here are some of the key takeaways:

  • The life sciences and healthcare sector is expected to bounce back in 2023: After a challenging 2022 in which factors like rising interest rates and a post pandemic rationalisation saw a decline in interest in the space, respondents across categories demonstrate optimism about the sector’s prospects.
  • An overwhelming 80% of investors expect to be involved in a transaction (funding, M&A, public listing): Over the next two years, a vast majority of investors surveyed believe they will engage with the life sciences and healthcare space. This is particularly significant since only 40% have engaged in transactions in the sectors over the last two years. Among investors who have not associated with the sector so far, 100% are ready to invest, given the right opportunity.
  • APAC will receive increased investor focus: The regions aging population, rising pressure on the public healthcare systems in some markets, as well as a sharp increase in health consumerism and digital innovations are among the major factors driving investor interest. While the life sciences and healthcare space has underperformed in the region compared to North America and Europe, innovative solutions in this space will be embraced by the region’s digital savvy middle class population which is growing in affluence.
  • Investors expect heightened M&A activity and more foreign investment: This is particularly true of mature markets. Most investors (56.3%) expect to see a growth in both volume and value of M&As over the next two years.

Read the report for a comprehensive overview of the life sciences and healthcare space including:

  1. The verticals most likely to attract investor interest and M&A.
  2. The impact of a recessive climate on investment.
  3. The biggest opportunities within the life sciences and healthcare according to investors, advisors, and professionals.
  4. The most critical challenges that the sector is dealing with.
  5. A forward-looking view on the scope and potential of life sciences and healthcare in the APAC region.

The report is essential reading for investors engaged in or thinking of engaging with the life sciences and healthcare, companies operating in the sector looking for growth opportunities, as well as advisors serving the space.
 

Download the full report now

 

¬ Haymarket Media Limited. All rights reserved.

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Asia’s Best Managed Companies 2023 – Market winners

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In: Asia, Finance, South-East Asia

Every year, FinanceAsia publishes its highly regarded benchmark of Asia’s best companies.

Based on nomination by Asia’s active community of influential investors and financial analysts, the poll evaluates the corporate behaviour and performance of Asian peers over the past 12 months.

It is with this in mind that the FA team is delighted to announce the winners for 2023.

Following very positive market participation, we have decided to award up to three medals per category to reflect corporate achievements. Gold, silver and bronze medallists are detailed where applicable.

Read on for the winners of the following categories:

– Best Overall Company
– Best Large-cap
– Best Mid-cap
– Best Small-cap
– Best Corporate Esg Strategy
– Best DEI Strategy
– Best Investor Relations
– Best CEO
– Best CFO

Don’t forget to read about our Industry Winners here.

Thank you to all those who participated and congratulations!

—  WINNERS BY MARKET —

— Best Overall Company —

China
Gold – China United Network Communications Group Co., Ltd.
Silver – Tencent Holdings Ltd.
Bronze – Xiaomi Inc.

Hong Kong SAR
Gold – Sun Hung Kai Properties Ltd.
Silver – Link Real Estate Investment Trust
Bronze – Swire Pacific Ltd.

India
Gold – Tata Consultancy Services Ltd. & Tata Power Company Ltd.
Silver – Infosys Consultants Private Ltd.
Bronze – Hdfc Bank Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Pt Bank Mandiri (Persero) Tbk

Philippines
Gold – Sm Prime Holdings, Inc. / Megawide Construction Corporation
Silver – Bank Of The Philippine Islands
Bronze – Ayala Corporation

Singapore
Gold – Amtd Group Company Ltd.
Silver – Dbs Bank Ltd.

Taiwan
Gold – Chunghwa Telecom Company, Ltd.
Silver – Far Eastern New Century Corporation
Bronze – Far Eastone Telecommunications Co., Ltd. & Wistron Neweb Corporation

Thailand
Gold – Ptt Global Chemical Public Company Ltd.
Silver – B. Grimm Power Public Company Ltd.
Bronze – Central Retail Corporation Public Company Ltd.

Vietnam
Gold – Vingroup Joint Stock Company
Silver – Vinfast Joint Stock Company
Bronze – Vinhomes Joint Stock Company

— Best Large-cap —

China
Gold – China Mobile Ltd.
Silver – Wuxi Biologics Cayman Inc.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Mandiri (Persero) Tbk
Bronze – Pt Bank Central Asia Tbk

Taiwan
Gold – Far Eastone Telecommunications Co., Ltd.
Silver – Chunghwa Telecom Company, Ltd.

— Best Mid-cap —

Hong Kong SAR
Gold – Asiainfo Technologies Ltd.

Indonesia
Gold – Pt Bank Tabungan Negara (Persero) Tbk
Silver – Pt Perusahaan Minyak Nasional
Bronze – Pt Mayora Indah Tbk

Philippines
Gold – Bloomberry Resorts Corporation
Silver – Sm Prime Holdings, Inc.
Bronze – Gt Capital Holdings, Inc.

Taiwan
Gold – Far Eastern New Century Corporation

— Best Small-cap —

China
Gold – Yiren Digital Ltd.
Silver – Tarena International Inc.
Bronze – Hello Group Inc.

Hong Kong SAR
Gold – Sa Sa International Holdings
Silver – Far East Consortium International Ltd.
Bronze – Viva China Holdings Ltd.

Indonesia
Gold – Pt Bank Keb Hana Indonesia
Silver – Pt Perikanan Nusantara (Persero)
Bronze – Pt Adi Sarana Armada Tbk

Philippines
Gold – Manila Water Company, Inc.
Silver – Security Bank Corporation
Bronze – Megawide Construction Corporation

Singapore
Gold – Amtd Digital Inc.

Taiwan
Gold – Wistron Neweb Corporation
Silver – Hwahsia Glass Co., Ltd.

Thailand
Gold – Dohome Public Company Ltd.
Silver – Forth Corporation Public Company Ltd.
Bronze – Gunkul Engineering Public Company Ltd.

— Best Corporate Esg Strategy —

China
Gold – China Telecom Corporation, Ltd.
Silver – Wuxi Biologics Cayman Inc.
Bronze – Meituan Inc.

Hong Kong SAR
Gold – Sun Hung Kai Properties Ltd.
Silver – Sino Land Company Ltd.
Bronze – The Mass Transit Railway Corporation

India
Gold – Infosys Consultants Private Ltd.
Silver – Tata Power Company Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Mandiri (Persero) Tbk
Bronze – Pt Bank Negara Indonesia (Persero), Tbk

Philippines
Gold – Ayala Corporation
Silver – Sm Prime Holdings, Inc.
Bronze – Sm Investments Corporation

Singapore
Gold – Sp Group Pte. Ltd.

Taiwan
Gold – Chunghwa Telecom Company, Ltd.
Silver – Wistron Neweb Corporation
Bronze – Far Eastern New Century Corporation

Thailand
Gold – B. Grimm Power Public Company Ltd.
Silver – Ptt Global Chemical Public Company Ltd.

Vietnam
Gold – Vinfast Joint Stock Company
Silver – Vingroup Joint Stock Company
Bronze – Vinhomes Joint Stock Company

— Best DEI Strategy —

China
Gold – China United Network Communications Group Co., Ltd.
Silver – Baidu, Inc.
Bronze – Trip.Com Group Ltd.

Hong Kong SAR
Gold – Far East Consortium International Ltd.
Silver – Asiainfo Technologies Ltd.

India
Gold – Tata Power Company Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Pt Bank Mandiri (Persero) Tbk

Philippines
Gold – Sm Prime Holdings, Inc.

Taiwan
Gold – Wistron Neweb Corporation
Silver – Far Eastern New Century Corporation
Bronze – Chunghwa Telecom Company, Ltd.

Thailand
Gold – B. Grimm Power Public Company Ltd.

Vietnam
Gold – Vinfast Joint Stock Company

— Best Investor Relations —

China
Gold – China United Network Communications Group Co., Ltd.
Silver – Asiainfo Technologies Ltd.
Bronze – Wuxi Biologics Cayman Inc.

Hong Kong SAR
Gold – Far East Consortium International Ltd.
Silver – Sun Hung Kai Properties Ltd.
Bronze – Asiainfo Technologies Ltd.

India
Gold – Tata Power Company Ltd.
Silver – Tata Motors Ltd.
Bronze – Titan Company Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Pt Bank Mandiri (Persero) Tbk

Philippines
Gold – Sm Prime Holdings, Inc.
Silver – Bdo Unibank, Inc.
Bronze – International Container Terminal Services, Inc.

Taiwan
Gold – Wistron Neweb Corporation
Silver – Far Eastern New Century Corporation
Bronze – Far Eastone Telecommunications Co., Ltd. & Chunghwa Telecom Company, Ltd.

Thailand
Gold – Central Retail Corporation Public Company Ltd.
Silver – Dohome Public Company Ltd.
Bronze – B. Grimm Power Public Company Ltd.

Vietnam
Gold – Vingroup Joint Stock Company
Silver – Vinhomes Joint Stock Company
Bronze – Vinfast Joint Stock Company

— Best CEO —

China
Gold – Liu Qiangdong – Jd.Com, Inc
Silver – Pony Ma Huateng – Tencent Holdings Ltd.
Bronze – Ke Ruiwen – China Telecom Corporation, Ltd.

Hong Kong SAR
Gold – Adrian Cheng – New World Development Company Ltd.
Silver – David Chiu – Far East Consortium International Ltd.
Bronze – Raymond Kwok – Sun Hung Kai Properties Ltd.

India
Gold – Rajesh Gopinathan – Tata Consultancy Services Ltd.
Silver – Sandeep Bakhshi – Icici Bank Ltd.

Indonesia
Gold – Sunarso – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Royke Tumilaar – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Jahja Setiaatmadja – Pt Bank Central Asia Tbk

Philippines
Gold – Jeffrey C Lim – Sm Prime Holdings, Inc. & Tg Limcaoco – Bank Of The Philippine Islands
Silver – Edgar Saavedra – Megawide Construction Corporation
Bronze – Enrique K Razon – International Container Terminal Services, Inc. /Bloomberry Resorts Corporation

Singapore
Gold – Piyush Gupta – Dbs Bank Ltd.

Taiwan
Gold – Chee Ching – Far Eastone Telecommunications Co., Ltd.
Silver – Douglas Tong Hsu – Far Eastern New Century Corporation
Bronze – Jeffrey Gau – Wistron Neweb Corporation

Thailand
Gold – Preeyanart Sunthornwatha – B. Grimm Power Public Company Ltd.
Silver – Phawat Witoopakorn – Eastern Polymer Group Public Company Ltd.
Bronze – Gunkul Dumrongpiyawut – Gunkul Engineering Public Company Ltd.

Vietnam
Gold – Le Thi Thu Thuy – Vinfast Joint Stock Company

— Best CFO —

China
Gold – Li Yuchao – China United Network Communications Group Co., Ltd.
Silver – Li Yinghui – China Telecom Corporation, Ltd.
Bronze – Li Ronghua – China Mobile Ltd.

Hong Kong SAR
Gold – Vanessa Lau – Hong Kong Exchanges And Clearing Ltd.
Silver – Brian Sum – Sun Hung Kai Properties Ltd.
Bronze – Edward Lau – New World Development Company Ltd.

Indonesia
Gold – Viviana Dyah Ayu Retno K – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Sigit Prastowo – Pt Bank Mandiri (Persero) Tbk
Bronze – Novita Widya Anggraini – Pt Bank Negara Indonesia (Persero), Tbk

Philippines
Gold – John Nai Peng Ong – Sm Prime Holdings, Inc.
Silver – Estela Tuason-Occena – Bloomberry Resorts Corporation
Bronze – Riza Maniego – Globe Telecom, Inc.

Singapore
Gold – Chng Sok Hui – Dbs Bank Ltd.

Taiwan
Gold – David Wang – Far Eastern New Century Corporation
Silver – Jona Song – Wistron Neweb Corporation

Thailand
Gold – Siriwong Borvornboonrutai – B. Grimm Power Public Company Ltd.

Vietnam
Gold – David Mansfield – Vinfast Joint Stock Company

 

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Asia’s Best Managed Companies 2023 – Industry winners

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In: Asia, Finance, South-East Asia

Every year, FinanceAsia publishes its highly regarded benchmark of Asia’s best companies.

Based on nomination by Asia’s active community of influential investors and financial analysts, the poll evaluates the corporate behaviour and performance of Asian peers over the past 12 months.

It is with this in mind that the FA team is delighted to announce the winners for 2023.

Following very positive market participation, we have decided to award up to three medals per category to reflect corporate achievements. Gold, silver and bronze medallists are detailed where applicable.

Read on for the winners of the following categories:

– Best Basic Materials Company
– Best Consumer Cyclicals Company
– Best Consumer Non-Cyclicals Company
– Best Energy Company
– Best Financial Company
– Best Healthcare Company
– Best Industrials Company
– Best Real Estate Company
– Best Technology Company
– Best Telecommunications Company
– Best Utilities Company

Don’t forget to read about our Market Winners here.

Thank you to all those who participated and congratulations!

— WINNERS BY SECTOR —

— Basic Materials Company —

Indonesia
Gold – PT Aneka Tambang Tbk
Silver – PT Krakatau Steel (Persero) Tbk & PT Petrokimia Gresik

Philippines
Gold – Nickel Asia Corporation

Taiwan
Gold – Far Eastern New Century Corporation

— Consumer Cyclicals Company —

Hong Kong SAR
Gold – ANTA Sports Products Ltd.
Silver – Viva China Holdings Ltd.

Indonesia
Gold – PT Mitra Adiperkasa Tbk
Silver – PT Erajaya Swasembada Tbk
Bronze -mPT Media Nusantara Citra Tbk

Philippines
Gold – Megawide Construction Corporation

Taiwan
Gold – Far Eastern New Century Corporation

— Consumer Non-Cyclicals Company —

China
Gold – Chongqing Hongjiu Fruit Company, Ltd.

Hong Kong SAR
Gold – Hengan International Group Company, Ltd.
Silver – Chongqing Hongjiu Fruit Company, Ltd.

Indonesia
Gold – PT Unilever Indonesia Tbk
Silver – PT Indofood CBP Sukses Makmur Tbk
Bronze – PT Sumber Alfaria Trijaya Tbk

Taiwan
Gold – Far Eastone Telecommunications Co., Ltd.

— Best Energy Company —

China
Gold – China Shenhua Energy Company Ltd.
Silver – CNOOC Ltd
Bronze – China Petroleum & Chemical Corporation

Indonesia
Gold – PT Perusahaan Minyak Nasional
Silver – PT Adaro Energy Indonesia Tbk
Bronze – PT AKR Corporindo Tbk & PT Perusahaan Listrik Negara (Persero)

Philippines
Gold – Aboitiz Power Corporation
Silver – ACEN Corporation & Semirara Mining And Power Corporation

Taiwan
Gold – Far Eastern New Century Corporation

Thailand
Gold – B. Grimm Power Public Company Ltd.
Silver – Energy Absolute Public Company Ltd. & Gunkul Engineering Public Company Ltd.

— Best Financial Company —

China
Gold – Industrial and Commercial Bank Of China (Asia) Ltd.
Silver – China Life Insurance Company Ltd.
Bronze – American International Assurance Company Ltd.

Indonesia
Gold – PT. Bank Rakyat Indonesia (Persero) Tbk
Silver – PT Bank Negara Indonesia (Persero), Tbk & PT Bank Mandiri (Persero) Tbk
Bronze – PT Bank Central Asia Tbk

Philippines
Gold – Bank Of The Philippine Islands
Silver – BDO Unibank, Inc. & Metropolitan Bank & Trust Company

Taiwan
Gold – Cathay Financial Holding Company, Ltd.
Silver – Chailease Holding Company Ltd. & First Financial Holding Company Ltd.

— Best Healthcare Company —

China
Gold – Wuxi Biologics Cayman Inc. & Innovent Biologics, Inc.
Silver – Akeso, Inc.

Hong Kong SAR
Gold – Sino Biopharmaceutical Ltd.
Silver – Canbridge Pharmaceuticals Inc.

India
Gold – Apollo Hospitals Enterprises Ltd

Indonesia
Gold – PT Prodia Widyahusada Tbk
Silver – PT Kalbe Farma Tbk
Bronze – PT Medikaloka Hermina Tbk

Thailand
Gold – Bangkok Dusit Medical Services Public Company Ltd.
Silver – Intermedical Care and Lab Hospital Public Company Ltd.
Bronze – Praram 9 Hospital Public Company Ltd.

— Best Industrials Company —

Hong Kong SAR
Gold – TK Group Holdings Ltd.

Indonesia
Gold – PT Astra International Tbk
Silver – PT United Tractors Tbk
Bronze – PT Krakatau Steel (Persero) Tbk

Taiwan
Gold – Far Eastern New Century Corporation

— Best Real Estate Company —

China
Gold – China Resources Land Ltd.

Hong Kong SAR
Gold – Far East Consortium International Ltd.
Silver – Sun Hung Kai Properties Ltd.
Bronze – Swire Properties Company Ltd.

Indonesia
Gold – PT Ciputra Development Tbk
Silver – PT Bumi Serpong Damai Tbk
Bronze – PT Pakuwon Jati Tbk

Philippines
Gold – SM Prime Holdings, Inc.
Silver – Ayala Land, Inc. & Robinsons Land Corporation

Taiwan
Gold – Far Eastern New Century Corporation

Thailand
Gold – Origin Property Public Company Ltd.
Silver – Quality Houses Public Company Ltd.

Vietnam
Gold – Vinhomes Joint Stock Company

— Best Technology Company —

China
Gold – Tencent Holdings Ltd.
Silver – JD.Com, Inc.
Bronze – Alibaba Group Holding Ltd.

Hong Kong SAR
Gold – Asiainfo Technologies Ltd.
Silver – BYD Electronic Company Ltd.

Indonesia
Gold – PT Telkom Indonesia (Persero) Tbk
Silver – PT DCI Indonesia Tbk
Bronze – PT Elang Mahkota Teknologi Tbk

Taiwan
Gold – Wistron Neweb Corporation
Silver – Sercomm Corporation
Bronze – Topco Scientific Co. Ltd.

Vietnam
Gold – Vinfast Joint Stock Company

— Best Telecommunications Company —

China
Gold – China Mobile Ltd.
Silver – China United Network Communications Group Co., Ltd.
Bronze – China Telecom Corporation, Ltd.

Hong Kong SAR
Gold – China United Network Communications Group Co., Ltd. (Hong Kong)
Silver – China Tower Corporation Ltd.

Indonesia
Gold – PT Telkom Indonesia (Persero) Tbk
Silver – PT XL Axiata Tbk
Bronze – PT Sarana Menara Nusantara Tbk

Philippines
Gold – Globe Telecom, Inc.
Silver – Converge ICT Solutions Inc.

Taiwan
Gold – Chunghwa Telecom Company, Ltd.
Silver – Far Eastone Telecommunications Co., Ltd.
Bronze – Taiwan Mobile Corporation Ltd.

— Best Utilities Company —

China
Gold – China Power International Development Ltd.
Silver – China Datang Corporation Ltd.

Hong Kong SAR
Gold – Tian Lun Gas Holdings Ltd.

India
Gold – Tata Power Company Ltd.

Indonesia
Gold – PT Jasa Marga (Persero) Tbk
Silver – PT Indonesia Kendaraaan Terminal Tbk
Bronze – PT Kencana Energi Lestari Tbk

Philippines
Gold – Manila Water Company, Inc.

Taiwan
Gold – Far Eastern New Century Corporation
 

¬ Haymarket Media Limited. All rights reserved.

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Dollar weaponization just cause for Asian Monetary Fund

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In: Asia, Business, Finance
Asian currency banknotes interspersed with US dollars. Photo: iStock/Getty Images.

Malaysian Prime Minister Anwar Ibrahim’s recent call for the revival of an Asian Monetary Fund (AMF) “to reduce reliance on the dollar or the International Monetary Fund” (IMF), raises the question of whether an AMF was necessary in the first place. Japan proposed the idea of an AMF shortly after the outbreak of the Asian Financial Crisis in July […]Continue Reading

China wins the mediation medal

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In: Asia

Recent developments in the Middle East have cast China as a reliable intermediary and proponent of multilateral dialogue, signaling a departure from Beijing’s typical reluctance to participate meaningfully in conflict negotiations. Saudi Arabia’s and Iran’s decision to restore diplomatic relations has raised Beijing’s diplomatic profile and political influence. The agreement between the hostile Middle Eastern […]Continue Reading

US-China naval rivalry goes far beyond war ‘games’

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In: Asia

As part of a joint military exercise with the Philippines, the US Navy is slated to sink a mock warship on April 26, 2023, in the South China Sea. The live-fire drill is not a response to increased tensions with China over Taiwan, both the US and the Philippines have stressed. But, either way, Beijing […]Continue Reading

Heatstroke kills 11 at India awards event

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In: Asia

Since 2010, heatwaves have claimed the lives of more than 6,500 people in India, and many cities across the nation experienced record temperatures next year. According to researchers, climate change is causing the warm spells to become harsher and more frequent throughout South Asia. Due to the heat, officials inContinue Reading