Qingdao Doublestar

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-2018-03-16

China's Ministry of Commerce (MOFCOM) reports small growth in inward foreign direct investment (FDI), albeit with significant growth in high-tech inward FDI (IFDI). United States (US) President Donald Trump likely to impose USD $60 billion of tariffs on Chinese goods to punish Beijing for forcing American companies to transfer technology. China's financing for Belt and Road Initiative (BRI) energy projects slows significantly in 2017. Chinese report that BRI projects are delivering living standard and work improvements to locals. Panasonic starts mass production of hybrid car batteries in China as Beijing's push for electric vehicles is expected to boost demand. JFTC raids Amazon's Japanese headquarters over suspicions that online retailing giant violated anti-trust regulations. Two Korean builders win order for a USD $740 million smart hospital project in Singapore. Kumho workers stage strike in protest of foreign ownership as Qingdao Doublestar acquires struggling South Korean tire company. Jokowi states that survey reveals that Indonesia ranks second when it comes to the world's attractive countries for investors. China has stated its intent to help fund and build what could become Indonesia's longest bridge. Honeywell repeats commitment to bring investment to and cooperate with Thailand given its plans fit the government's Thailand 4.0 vision. Mercedes-Benz and Thai JV partner to invest $123 million to build EV batteries in Thailand. Vietnamese authorities to review large foreign investment projects in the wake of withdrawal of USD $3.2 billion refinery and petrochemical project. Binh Duong province (Vietnam) grants 15 investment certificates for foreign firms investing in the region.

MNCs in the News-2018-03-09

China National Development and Reform Commission (NDRC) states China will improve noticeably market access and operating conditions for foreign direct investment (FDI) this year. American Chamber of Commerce in South China reports that number one concern of American businesses in China because of the is China's cybersecurity law. European Union (EU) may adopt legislation relating to inward FDI this year as a result of rising security concerns especially where Chinese FDI involved. Beijing's controls on outward Chinese FDI do not dent Fosun acquisition spree in clothing and luxury goods areas. Nissan in talks with Renault to acquire bulk of French state's 15 percent Renault stake. Japanese companies still waiting to see what happens with Great Britain's EU Brexit negotiations before deciding how to react to Brexit. GM Korea to ask Korean government to make its Korean factory sites foreign investment zones so it can get tax concessions. Doublestar reaches agreement with Korea Development Bank on purchase of 45 percent stake in Kumho Tire as union protests continue. Jakarta makes it easier to invest in energy and mineral sector by reducing regulations and licensing burdens. Prudential in talks with Malaysia's second largest pension fund to sell 30 percent stake in Malaysian unit following Malaysian central bank move to reduce foreign investment stakes. Telekom Malaysia signs memorandum of understanding with Huawei to work together on expanding fiber broadband network reach in Malaysia. Vietnam revokes investment license for foreign-owned oil refinery project. Legal expert says that foreign investors are interested in developing infrastructure projects in Vietnam including the North-South highway but hesitate because of legal problems.

MNCs in the News-2018-03-02

Apple stores key for accessing Chinese users iCloud data in China raising human rights and privacy concerns. Committee on Foreign Investment in the United States (CFIUS) opposition causes Xcerra to terminate sale to Chinese investment fund. Chinese automakers not braking on their overseas expansion despite legal and regulatory issues facing outward foreign direct investment (FDI). Shanghai government takes over CEFC China Energy. Toyota to build next generation of Auris model cars in England despite worries about effect of Brexit. Kubota Corp. to spend over USD $3.1 billion on three new US production plants in a bid to mitigate foreign exchange risks and jump market barriers. Mounting pressure in the US to impose trade restrictions on various Korean-made products cause Samsung Electronics to consider more US based production facilities. Kumho Tire under pressure to find new majority shareholder given opposition to Chinese investment in a firm that operates defense businesses. Foreign investors charged up about investment opportunities in Indonesian electric vehicle battery sector because of the country's backward energy infrastructure and battery technology. Indonesia's BIBU plans to work with foreign partners/investors to build a new airport in Bali subject to Ministry of Transportation approval. Russia proposes joint innovation fund with Thailand to increase investment in technology. Najib Razak announces Saudi Arabia's state-owned oil and gas conglomerate Aramco will invest USD $7 billion into Malaysia before March 31. Vietnam approves Vietcombank's sale of a 10 percent stake to foreign investors as Hanoi rolls back restrictions on foreign investment in the sector.