MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
Natural Park has been in a beleagured condition for several years as it strived to repay its external loans, and its survival seemed in question for a period.
Company executives said in a statement filed with the Thai stock market that the selling price of the asset is higher than the book value, which hopefully presages stronger financial stability.
Natural Park expects to alleviate its debt burden further when it hopes to make about $50 million from selling shares in subway operator Bangkok Metro, in the anticipated IPO (see related story). Natural Park holds a total stake of 14.5% in that subway company.
Two months ago, Lehman and others snapped up 51% of Thai hotelier Grande Asset for about $80 million. This was a remarkable achievement for the seller as the companyÆs market capitalisation was just a third of that level only six months before.
It has just been revealed that the investment banker marshalling that deal was none other than the heavyweight Bangkok financier, Bob McMillen, a redoubtable Big Mango veteran, whom, in his Seamico days, masterminded victories in FinanceAsiaÆs award for Thai broker of the year three years running. His new corporate finance company McMillen Advantage Capital is the flagship of his newly established MAC Group and he is understood to be headquartered currently in Dubai.
Fancy a holiday chez Lehman? The Phuket hotel rooms are going for about $60 per night. However, the hotel is located quite a long way from the nightlife of Patong.
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.
The asset allocation matrix is becoming more complex as investors look for new sources of returns beyond traditional asset types. How can investors measure and maximise returns in compounded portfolios?
When it comes to family offices, the generations don't always see eye to eye. For the younger generation, ESG concerns and tech plays are beginning to predominate.
Kwap property arm appoints CEO; VFMC names new CEO as Lisa Gray retires; MSIG Singapore promotes Mack Eng as CEO; Monroe Capital opens first Asia office in Seoul, hires head from Aberdeen; Vanguard Australia appoints new MD to relocate from US; HSBC AM expands EM debt team; Vantage FX hires from CGS-CIMB in Singapore; and more.