Denny's Feed
Feb 9, 2015

Tycoon Dhanin unfazed after Tesco rebuffs approach for Thai unit-sources

HONG KONG/SINGAPORE (Reuters) – Tesco Plc rebuffed an approach from billionaire Dhanin Chearavanont in December to buy the British retailer’s Thai unit, but undeterred, the tycoon is building financial firepower for another attempt, people familiar with the matter said.

Thailand’s second-richest man has added UBS and Siam Commercial Bank (SCB) to the list of banks to help finance and advise on a bid for Tesco Lotus after his preliminary talks to buy the business valued at about $10 billion ended without a deal, the people said. Bank of America Corp had assisted the tycoon in the earlier talks, they said.

Feb 4, 2015

AIA, Pru among bidders for DBS’s $1.5 billion distribution deal: sources

HONG KONG (Reuters) – AIA Group Ltd, Prudential plc and Manulife Financial Corp are among firms shortlisted to become the insurance partner of Singapore’s DBS in a bank distribution deal worth around $1.5 billion, people familiar with the matter said.

DBS’s bancassurance deal, under which it will distribute products exclusively of the chosen partner over 15 years, is the last major agreement of this kind available for insurers keen to tap into Asia’s fast-growing insurance market.

Feb 4, 2015

AIA, Pru among bidders for DBS’s $1.5 bln distribution deal-sources

HONG KONG, Feb 4 (Reuters) – AIA Group Ltd,
Prudential plc and Manulife Financial Corp are
among firms shortlisted to become the insurance partner of
Singapore’s DBS in a bank distribution deal worth around $1.5
billion, people familiar with the matter said.

DBS’s bancassurance deal, under which it will
distribute products exclusively of the chosen partner over 15
years, is the last major agreement of this kind available for
insurers keen to tap into Asia’s fast-growing insurance market.

Jan 30, 2015

BOC Hong Kong considering sale of $6 bln bank unit: sources

HONG KONG/SHANGHAI (Reuters) – Lender BOC Hong Kong Holdings Ltd is considering a sale of subsidiary Nanyang Commercial Bank (NCB) that could fetch about $6 billion, in a bid to stop cannibalizing the China business of its parent, people familiar with the matter said.

BOC Hong Kong is a unit of Bank of China Ltd , the fourth-biggest lender by assets in the mainland, and selling NCB will help streamline the group’s operations in the country, the people said. A $6 billion sale would make it Asia-Pacific’s third-biggest bank deal, according to Thomson Reuters data.

Jan 29, 2015

Exclusive: BOC Hong Kong considering sale of $6 billion bank unit – sources

HONG KONG/SHANGHAI (Reuters) – Lender BOC Hong Kong Holdings Ltd (2388.HK: Quote, Profile, Research) is considering a sale of subsidiary Nanyang Commercial Bank (NCB) that could fetch about $6 billion, in a bid to stop cannibalizing the China business of its parent, people familiar with the matter said.

BOC Hong Kong is a unit of Bank of China Ltd (3988.HK: Quote, Profile, Research), the fourth-biggest lender by assets in the mainland, and a sale of NCB will help streamline the group’s operations in the country, the people said. As of June last year, half of NCB’s total loans were to customers in China, according to ratings agency Moody’s.

Jan 29, 2015

Exclusive: BOC Hong Kong considering sale of $6 billion bank unit Nanyang – sources

By Denny Thomas and Engen Tham

(Reuters) – Lender BOC Hong Kong Holdings Ltd (2388.HK: Quote, Profile, Research) is considering a sale of its $6 billion subsidiary Nanyang Commercial Bank (NCB) to stop cannibalising the China business of its parent, people familiar with the matter said.

BOC Hong Kong is a unit of Bank of China Ltd (3988.HK: Quote, Profile, Research), the fourth-biggest lender by assets in the mainland, and a sale of NCB will help streamline the group’s operations in the country, the people said.

Jan 28, 2015

Wanted: Asia-focused banker for StanChart’s top spot

HONG KONG, Jan 28 (Reuters) – Standard Chartered Plc
is seeking a leader with a tough-to-find mix of Asian
experience and regulatory clout as it kicks off the search for a
successor to CEO Peter Sands, investors, bankers and headhunters
told Reuters.

The list of potential candidates is wide and includes Piyush
Gupta, CEO of Singapore-based DBS, outgoing Westpac
CEO Gail Kelly, National Bank of Abu Dhabi’s boss Alex
Thursby, ANZ CEO Mike Smith and Antonio Horta-Osorio,
CEO of Lloyds Banking Group.

Jan 25, 2015

Hong Kong tycoon’s M&A spree promises bumper year for Asia banks

HONG KONG (Reuters) – Li Ka-shing’s hectic start to 2015 has meant record Asia M&A, loan and equity deals so far this month – good news for investment bankers close to the 86-year-old Hong Kong tycoon’s empire.

The brisk business – $108 billion of Asia M&A makes it the best start to a year, according to Thomson Reuters data – raises hopes that the Chinese Year of the Goat could bring a windfall to a region that has been starved of fees.

Jan 23, 2015

Analyst-turned-fund manager basks in Xiaomi glow

HONG KONG (Reuters) – Richard Ji, whose little-known fund was the biggest investor in leading Chinese smartphone maker Xiaomi Inc’s [XTC.UL] $1.1 billion fundraising last month, is a numbers man looking to spot ‘category killers’ – start-ups with the power to disrupt.

Ji, a former Morgan Stanley technology industry analyst, co-founded All-Stars Investment Ltd in Hong Kong last April with half a dozen colleagues from the Wall Street bank.

Jan 23, 2015

Li Ka-shing’s Hutchison to buy Telefonica UK unit for $15 billion: source

MADRID/HONG KONG (Reuters) – Li Ka-shing’s Hutchison Whampoa Ltd is set to buy Telefonica’s British mobile unit O2 in a deal valued at more than 10 billion pounds ($15 billion), a source with direct knowledge of the matter said, as Asia’s richest man makes one of his biggest bets yet to revamp his European telecoms business.

The agreement is likely to be announced on Friday and will mark the latest move towards telecoms consolidation in Britain, where the market is split between four mobile network operators and four separately owned fixed-line and broadband providers.