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The divestment was consistent with the bank’s strategy of simplifying its business and narrowing the focus of its Asian operations on institutional business, analyst David Ellis said in a research note released yesterday. The sale followed those of five Asian…
Shell has completed the sale of its 51% shareholding in the Shell Refining Company (Federation of Malaya) Berhad (SRC) in Malaysia, which includes the 125,000 barrel per day refinery in Port Dickson, to Malaysia Hengyuan International Limited (MHIL) for $66.3…
The President of Thai Airways Charamporn Jotikasthira has told reporters that the full-year target of 180 billion baht is unlikely to be achievable. A report posted with regard Thailand’s crackdown on China’s so-called zero-dollar tours has led to a sharp…
Malaysian shares edged higher Friday, as investors cheered Prime Minister Najib Razak’s resolve to narrow the budget deficit next year. Najib, who pledged to hand out cash aids and push for infrastructure development to stoke growth in an uncertain global…
Shares in UK-based fashion retailer French Connection Group Plc rose more than 20 percent on Monday after a media report said overseas investors were looking to buy the lossmaking firm. The Telegraph newspaper had said on Saturday that interested buyers were…
Ooredoo plans stake sale in Indonesian unit Indosat. Ooredoo is exploring options including a sale of its controlling stake in Indonesia’s phone carrier PT Indosat as the Qatari phone company seeks to raise cash and focus on its more profitable Middle Eastern…
Malaysia’s Axiata Group is said to be seeking buyers for stakes in its Asian telecoms assets worth up to $700 million as part of efforts to reduce debt. The group may sell around 11% of Indonesia’s XL Axiata and up to 30% each of Sri Lanka’s Dialog Axiata and…
Malaysia’s Axiata Group is considering increasing its stake in Singapore’s M1 as a strategic investment. Axiata CEO Tan Sri Jamaludin Ibrahim told that the company would “seriously consider” lifting its stake in M1 “if the price is right”. Axiata is already…
Singtel has confirmed it has arranged to indirectly increase its stake in Thai mobile affiliate AIS, and revealed it will also increase its share in India’s Bharti Airtel. The operator announced it has entered a conditional agreement to acquire 21% of Thai…
Singtel is reportedly in talks regarding indirectly increasing its stake in Thailand’s top mobile operator AIS. The operator is negotiating with Temasek Holdings regarding a sale of part of the investment company’s 41% stake in Intouch, a major shareholder in…
Thailand’s Berli Jucker shareholders have voted in favor of a $6.2 billion acquisition of hypermarket operator Big C Supercenter Pcl (BIGC.BK) from France’s Casino Group. Some 99.99 percent of voters approved the plan at Monday’s meeting, two financial…
Thailand’s largest retail conglomerate Central Group is keen to bid for Casino Group’s Thai and Vietnam operations, a company executive said. Casino owns 58.6 percent of Big C Supercenter Pcl, which has a total a market value of $5.5 billion. Casino said last…
Shares in Shanghai slumped on Friday, leading other Asian markets lower as investors headed for safety ahead of a weekend referendum that could decide whether Greece stays in the euro zone that is now too close to call. The Shanghai Composite fell 5.57%…
