Key Safety Systems

MNCs in the News-2018-04-13

Observers believe China’s financial sector liberalization will draw in foreign investors and help internationalize the renminbi. China’s Ministry of Commerce (MOFCOM) expects outward foreign direct investment (FDI) to show good growth for the first quarter of 2018. China “insures” insurance sector will have new openings for foreign investors. Chinese outward FDI in the United States (US) showed massive drop from 2016 to 2017 for various political and economic reasons. Belt and Road Initiative (BRI) mergers and acquisitions (M&A) in 2017 jumps with the Association of Southeast Asian Nations (ASEAN) a favored place for Chinese M&A. Troubled Takata says its acquisition by Key Safety Systems has been completed and the deal has received antitrust and bankruptcy court approvals in several countries. Ghana’s Finance Minister says African countries looking to Japan, among other Asian countries, to tap into abundant investment resources to fund Africa’s development needs. The Chinese government’s latest list of subsidy eligible electric vehicles continues to exclude South Korean battery firms. GM Korea has deadline of April 20th to submit restructuring plans for South Korean operations to government bodies. Malaysia’s Digital Free Trade Zone forecasted to attract over USD $200 million through investments on infrastructure, systems, and equipment over next three years. IHH Healthcare Bhd suggests it would spend up to USD $1.3 billion to acquire India’s Fortis Healthcare Ltd even though India’s fraud commission is investigating the company.

MNCs in the News-2018-02-23

China to use mechanism of internationalization including inward foreign direct investment (FDI) in mixed ownership reform to enhance ability of state-owned enterprises. For 2018, Guizhou aims for $150 billion in investment money from outside the province including small and medium-sized enterprises from foreign countries. Chinese outward FDI in January 2018 jumps over same period a year earlier. Chinese government constraints on outward FDI become even tighter. Japanese airbag manufacturer Takata receives US court approval for its bankruptcy exit plan. Japanese steelmaker JFE Holdings concerned Trump's protectionist rhetoric could impede own investment plans to build US based plant. Korea Expressway Corporation signs MoU for Indian highway construction following agreement between Korean and Indian government to support USD $10 billion in Indian infrastructure. GM proposes investing USD $2.8 billion in its Korean operations, but calls for government assistance to maintain its remaining plants. Russian diversified energy holding company Inter Rao seeking to develop Indonesia's Bandar Kayangan Global Hub. Finance Minister says Indonesia to revise tax incentives to attract more investment. Thailand's government approaches Japanese robotics maker and other engineering manufacturers to build facilities along its EEC. Manila Water Company acquires 18.72 percent stake in Thailand's Eastern Water to enter Thailand's EEC. Thailand's Superblock Pcl plans to invest USD $1.76 billion to build wind farms in Vietnam in sync with Hanoi's renewables policy.

MNCs in the News-2017-11-24

Skype loses Apple app store connection in China due to government regulation. Illegal overtime at Apple supplier Foxconn plant in Henan stopped. Chinese official reports Chinese firms employed more than 1.3 million people abroad in 2016. According to Chinese railway authorities, China has 20 overseas railway projects right now with investment around $15 billion. Bad press on Uber’s data theft cover-up may push SoftBank to renegotiate the terms of USD $10 billion investment deal due to impending legal action. Air bag maker Takata finalizes agreement to sell assets to Chinese owned Key Safety Systems to obtain cash needed to cover court imposed penalties. US trade commission’s proposed import tariffs on washing machines may lead Samsung and LG to reassess whether building new US factories would still be beneficial. South Korea’s SK Group sells used car affiliate to Australia’s Carsales Holdings in face of government barriers to further expansion. Indonesian government looking for more than USD $800 million in private foreign investment to develop tourism near Lake Toba. Real Estate Indonesia invites Japanese developers to engage in housing projects after Japan’s Prime Minister reaffirmed his country’s commitment to increasing investment in Indonesia. DHL to invest over USD $350 million to develop its IT services in Malaysia, contributing to Kuala Lumpur’s national digital transformation agenda. Nestlé selects Malaysia for global procurement hub investment as Malaysian Minister announces Kuala Lumpur strives to position the country as a preferred investment destination. Jardine Matheson and Fraser and Neave seek to increase stakes in Vinamilk as Vietnam continues to divest in its state-owned industries, albeit cautiously. Hanoi cooperating with World Bank to create new regulations to increase FDI in Vietnam as country seeks to diversify FDI sources.

MNCs in the News-2017-06-30

China’s Ministry of Commerce (MOFCOM) plans to create database with information on foreign investors. China’s MOFCOM and National Development and Reform Commission role out first nationwide negative list, which has 30 fewer restricted and prohibited sectors than the 2015 list. China’s Leading Group for Comprehensive Reform calls for more statistics on and the better monitoring of Chinese outward foreign direct investment (OFDI). Despite Brexit, many expect Chinese firms will remain interested in investing in the United Kingdom (UK). Takata files for bankruptcy protection in the US and Japan due to massive recall, with viable operations bought by Chinese-owned Key Safety Systems. Korea Economic Research Institute urges Korean government to exempt taxes on income earned by South Korean multinationals abroad to encourage capital repatriation. Samsung joins increasing list of international firms boosting employment in the US in line with US President Donald Trump’s push for more manufacturing jobs. Jakarta plans to revise its Negative Investment List to encourage more foreign investment. World Bank states that foreign investment in Indonesia is still too low and recommends various policy changes. Minister says Malaysia’s government constantly striving to attract foreign investment. Former Bank Negara Malaysia governor says Malaysians should view China’s increasing investment rationally to evaluate benefits to country.