The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
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.
Sunsuper and QSuper appoints CIO for combined entity; State Street appoints heads of HK and Taiwan; Nothern Trust rebuilds Apac team; Manulife IM names emerging markets fixed income CIO; RBC Wealth Management hires four into HK; Lombard Odier hires two senior equity managers; Allianz Global Investors appoints Asia hand as equity CIO; and more.
Investors from China and the US are expected to continue buying assets in each other’s markets despite the blacklist of Chinese firms with military and surveillance ties.
Stronger government actions are needed to meet the Paris Agreement goal of limiting global temperature rise to 1.5 degrees, investors such as Hesta and CDPQ signed in a statement.
AsianInvestor explains why we chose the winners of the second half of our 2021 fund manager winners, by major local markets.