Hyundai Motor Group

MNCs in the News-2018-01-08

Chinese drug approval authorities likely to approve several blockbuster foreign drugs in 2018. Hyundai Motor Group faces declining sales growth in 2018 in large part due to political and economic challenges in China. China State-Owned Assets Supervision and Advisory Commission (SASAC) to issue new guidelines to improve behavior of state-owned enterprises (SOEs) in various areas. United States (US) Committee on Foreign Investment in the United States (CFIUS) concerns leads China’s Ant Financial and US MoneyGram to terminate the former’s acquisition of the latter. Japan’s Toshiba Corp sells floundering US nuclear business Westinghouse, which went bankrupt after regulations and other factors stalled many of its projects, to Canada’s Brookfield. US legal process for Takata Corp.’s US unit coming to completion, which should allow company to make payouts to claimants who suffered from Takata’s faulty airbags. Korea urges US policy makers to reconsider the US International Trade Commission's recommended special tariff on imported Korean washers. Lotte Group struggling to shed its politically troubled Chinese hypermarket chain after talks with Thai conglomerate failed to produce agreeable sale price. Indonesia’s state-owned energy company Pentamina took back control of Indonesia’s largest oil and gas block helping Jakarta to expand its control over domestic energy production. Indonesia’s Investment Coordinating Board launches several measures to spur 10 to 14 percent year on year growth in FDI. Thailand’s Board of Investment expects FDI into its EEC to continue to grow as new EEC policies are implemented and foreign companies become familiar with EEC requirements. Chinese FDI into Malaysia is expected to move out of infrastructure and property development and into new sectors due to China’s Belt and Road Initiative. Japanese Ambassador touts that Japanese firms have a good chance to win Kuala Lumpur-Singapore high-speed rail project. Vietnam’s Ministry of Transport has set a new deadline for long delayed Chinese-funded Cat Linh rail project

MNCs in the News-2017-11-17

China’s Ministry of Commerce (MOFCOM) reports slow growth in inward foreign direct investment (FDI) over the first 10 months of 2017. China dangles prospect of freer car ventures for foreign investors if they meet certain conditions regarding where they invest and what they produce. To meet government requirements, Amazon Web Services sells the physical assets for its China cloud business to local Chinese partner. MOFCOM announces plunge in growth of outward FDI (OFDI) between January and October 2017, linked to its effort to control irrational investment. Troubled Toshiba to sell TV and visual solutions subsidiary to China’s Hisense to obtain cash needed to deal with the fallout of regulatory changes that bankrupted its American nuclear business. SoftBank to invest up to USD $25 billion in Saudi Arabia to support Crown Prince’s agenda. Hyundai sent Vice Chairman to US to develop response to Trump Administration’s desire to revise Korean-US Free Trade Agreement. Hyundai confirmed expansion of its Alabama plant ahead of KORUS FTA negotiations. Tadmax Resources partnering with Korea’s state-owned Korea Electric Power Corp to build USD $840 million power plant in Malaysia. Malaysia’s state-owned Tenaga Nasional Bhd and Indonesian state-owned utility company PT PLN to build coal-fired power plant in Kalimantan.

MNCs in the News-2017-09-29

China’s National Development and Reform Commission (NDRC) notes possibility China may expand its negative list approach nationwide as early as 2018. State-owned Assets Supervision and Administration Commission (SASAC) representatives encourage foreign investors to partake in China’s mixed-ownership reform of state-owned enterprises (SOEs). At the World Trade Organization (WTO), the United States (US) asks China to hold off implementing its cybersecurity law. US Committee on Foreign Investment in the United States opposition torpedoes Chinese bid to take a 10 percent stake in Dutch mapping company. Kobe Steel Ltd and US Steel Corp. to launch US joint venture to produce steel needed to build cars that meet their respective governments’ tightening emissions standards. Sumitomo has invested in Taiwanese electric scooter maker Gogoro to tap Gogoro’s advanced electronic battery technologies which are in increasing demand due to rising environmental standards. Unilever acquires Carver Korea as Korean makeup brand weakens due to declining sales in China resulting from THAAD tensions. Despite suffering from China’s THAAD related sanctions, Hyundai opens big data center in China to tap Chinese government’s promotion of connected cars. Indonesia's Transportation Ministry opens 12 infrastructure projects worth a total of USD $3 billion to foreign investors. Indonesia’s Indika Energy raises stake in large local coal producer after forced Freeport-McMorRan divesture and new Indonesian government policies drive Korea’s Samtan to reduce its stake in the country. Vietnam’s Ministry of Finance says equitisation progress of state-owned enterprises so far disappointing. World Bank and Vietnam’s Ministry of Industry and Trade collaborate to implement solar projects pilot auction program.