Swine fever sending pork prices higher

PARIS, May 22 — In a cruel irony in the Chinese Year of the Pig, outbreaks of African Swine Fever are forcing huge culls that could send pork prices to levels never seen before. According to the UN’s Food and Agricultural Organisation, pork…

SaigonBank Berjaya Securities partners Thai brokerage company

PETALING JAYA: SaigonBank Berjaya Securities JSC (SBBS) and Thailand’s KT ZMICO Securities Co Ltd (KTZ) are teaming up to provide corporate advisory services to clients from partner countries.

The collaboration between SBBS and KTZ will provide in-depth corporate services to clients from both countries as well as other countries in the Asean region where their businesses are present.

SBBS is a licensed securities company in Vietnam and is a joint venture between Inter-Pacific Securities Sdn Bhd with local Vietnamese partners.

The corporate advisory services to be offered to the companies’ clients include primary market/investment banking, secondary markets and other related services such as cross-border securities brokerage and strategic partnership.

“The objective is to widen the area of business opportunities to allow not only single entry but bilateral entry via Vietnam, Thailand, Malaysia, Myanmar and Laos. In addition, clients from these countries whom have invested outside of their home countries are better served with the presence of both SBBS and KTZ,” SBBS said in a statement.

The collaboration is expected to result in synergy between the two companies via their strengths in retail brokerage and investment banking experience, while extending services to their clients in the region.

SBBS CEO Josephine Yei Pheck Joo and KTZ chief investment banking officer Wirach Morakotkarn opined that the business borders should not be contained within the existing country.

According to them, the two businesses should capitalise on each other’s presence to widen business borders, using local presence and knowledge to better serve existing clients as well as build its network and branding.

“We are very excited to see the progress and this collaboration marks another great move in the milestones as we are combining both companies’ strengths in talents and resources to give a more comprehensive experience and range of services while reducing competition and cost,” they said in a statement.

The two parties signed a memorandum of understanding in Saigon last week.

China’s Belt and Road: Ports, trains and infrastructure

BEIJING, April 26 — China is trying to woo more nations to join a massive network of ports, railways, roads and industrial parks that links dozens of countries in Asia, Europe and Africa. President Xi Jinping touted the benefits of his signature…

China-backed trade pact to be finalised this year, SE Asian official says

CHIANG RAI, April 6 — Southeast Asian countries engaged in talks on a major China-backed trade pact expect to finalise it this year, the finance minister of Thailand, which is the current chair of the 10-nation Asean grouping, said yesterday….

Laos has ‘mortgaged’ future at expense of people, UN expert says

BANGKOK, March 29 — The Laos government has prioritised big infrastructure projects including dams, railways lines and mines that have benefited few people and uprooted the poor from their land, said the top independent expert on poverty at the…

EU adds Saudi Arabia to dirty-money blacklist, upsets Britain

STRASBOURG, Feb 14 — The European Commission added Saudi Arabia, Panama, Nigeria and other jurisdictions to a blacklist of nations seen as posing a threat because of lax controls on terrorism financing and money laundering, the EU executive said…

F&N regains momentum, post-transformation

KUCHING: Fraser & Neave Holdings Bhd (F&N) saw an improvement in its earnings for the first quarter of 2019 (1Q19), lifted by its improved costs efficiency. In a report, the research team at MIDF Amanah Investment Bank Bhd (MIDF Research) pointed out that F&N’s normalised earnings for 1QFY19 came in higher by 15 per cent […]

Axiata buys 80% stake in Laos firm

PETALING JAYA: Axiata Group Bhd’s 63%-owned subsidiary edotco Investments (Labuan) Ltd (edotco Labuan) is acquiring an 80% stake in Laos’s Mekong Tower Company Ltd (MTCL) for LAK12.8 billion (RM6.08 million) cash.

Axiata said in a filing with the stock exchange that edotco Labuan had entered into a share subscription agreement (SSA) with Viphet Sihachakr (VS) and MTCL for the purchase.

The SSA is subject to, amongst other, procurement of operating licence or other form of authorisation from the Ministry of Post and Telecommunications of the Government of Laos to MTCL for the provision of infrastructure solutions for telecommunications and network operators in Laos; registration of MTCL with the Ministry of Industry and Commerce of the Government of Laos; and procurement by VS of viable business including relevant concessions and/or incentives in Laos.

Unless waived by the parties, the conditions must be satisfied not later than six months from the date of the SSA.

“The proposed subscription provides opportunities for edotco group to expand into a new market and grow organically via build-to-suits and inorganically with sizeable sale-and-leaseback prospects,“ Axiata said.

The Laos tower market is expected to undergo intense growth in tandem with a national drive towards 4G adoption, with an estimated demand of no less than 5,000 towers over the next three years, underscoring the need for an independent tower player to meet the requisite capital expenditure and cost optimisation burdens incumbent on local mobile network operators.

Tan Chong Motors ratings unaffected by Nissan JV termination in Vietnam

KUALA LUMPUR, Dec 21 — The termination of the joint venture between Tan Chong Motor Holdings Bhd (TCMH) and Nissan Motor Co Ltd in Vietnam has no immediate impact on its ratings, said RAM Ratings Services Bhd. RAM’s Consumer and…

TIME dotCom’s profit soars to RM80m

KUALA LUMPUR, Nov 27 — TIME dotCom Bhd’s net profit soared to RM79.98 million in the third quarter (Q3) ended Sept 30, 2018, from RM28.23 million in the year-ago period as it boosted its revenue on improved cost efficiencies and made a net gain…