Grab

MNCs in the News-2018-04-06

Beijing’s market competition regime exerts increasing effect on global merger and acquisition (M&A) activity and foreign firm operations in China. The Committee on Foreign Investment in the United States (CFIUS) put severe constraints on Japan’s SoftBank as a condition of its acquisition of US investment group Fortress last year. Toshiba Corp. to miss March deadline to sell USD $19 billion flash memory division due to complications with China’s anti-trust regulators. Kumho Tire to finalize sale agreements with Qingdao Doublestar following its union’s vote on the sale. Lotte Group reaffirms its decision to exit its Chinese operations after China’s State Councillor pledged China would support smooth sales of Lotte Mart’s Chinese stores. Turkey’s Hitay Holdings repeats pledge to develop USD $1 billion geothermal power plant in Indonesia’s Aceh province. Indonesia’s investment board announces removal of foreign capital restrictions on investment in university and other educational ventures. Thai investors criticized for their impact on locals and the environment in Cambodia and Myanmar. Malaysia to evaluate market impact of Uber’s move to sell its Southeast Asian operations to Singapore’s Grab. Malaysia’s state-owned energy utility company Tenaga Nasional secures USD $168.77 million to refinance its 80 percent stake in two UK wind energy companies. Foreign investment in Vietnam increases due to country’s increasingly open investment environment.

MNCs in the News-2018-01-12

China moving to make Free Trade Zones (FTZs) freer. China punishes Marriott over survey that lists Hong Kong, Macao, and Tibet as independent countries. Apple’s iCloud darkens as it transfers the service to a Chinese company that will operate it and keep all data in China. French Finance Minister welcomes Chinese foreign direct investment (FDI) in France provided it is not “looting.” President Donald Trump’s pressure seems to have driven Toyota and Mazda to select Alabama for USD $1.6 billion production facility. NEC acquires Northgate Public Services for USD $640 million following the British government’s promotion of digitalization. South Korea’s state-operated Korean Development Bank sets price floor on sale of struggling construction firm Daewoo Engineering & Construction. Hyundai invests in Singapore’s Grab in effort to expand in Southeast Asia and reduce reliance on the tumultuous China market. Indonesia’s Ministry of Finance to reevaluate investment attraction programs after no companies applied in 2017. Jakarta and Freeport-McMoRan seek to resolve by June a host of operational issues that plague the future of Grasberg mine. Nissan shortlists Thailand as possible location for Asia-Pacific EV manufacturing facility due to Thai investment incentives. Thai Minister says Chinese investment into country’s rubber plantations must be carefully considered and not impact local farmers. Johor Sultan invests USD $100 million in Sri Lanka’s first pharmaceutical manufacturing sector. New policy decree by Hanoi allows foreign enterprises to provide logistics services in Vietnam. Several of Vietnam’s efforts to divest state-owned enterprises at the end of 2017 did not catch much investor attention.