Singapore’s Business Times reports that M&A activity in the region is set to grow this year, if the political fabric of some countries such as Thailand remains intact.
“We’re fairly positive on the M&A space here this year, though we’ll have to keep our fingers crossed over how our neighbours develop – how Singapore fares will depend on the region,” said Andrew Ang, head of the Corporate/Mergers & Acquisitions Practice and a partner in the Private Equity Practice at WongPartnership.
For 2014, Ang sees continued interest in the energy, resources and infrastructure sectors, as well as education and healthcare, with investors in this part of the world inclined to use the Republic as their base.
Citic finance boss jailed for insider trading
Bloomberg reports that Citic Pacific former deputy head of finance Chui Wing Nin pleaded guilty to two counts of insider trading at his retrial and was sentenced to nine months in prison, Hong Kong’s securities regulator said.
Chui was also fined HK$612,000 ($78,800) and barred from being a company director in Hong Kong for three years.
In 2012, Chui was convicted and sentenced to 15 months and a HK$1 million fine after pleading not guilty to charges that he sold Citic Pacific shares in 2008 before the company issued a statement disclosing potential losses of as much as HK$15.5 billion from wrong-way currency bets.
Global banks and funds bail on Mongolia
Bloomberg reports than a number of major investors in Mongolia are looking to exit after serious problems with their interests in the country’s largest lender.
Deutsche Bank fires three New York traders
Reuters says that Deutsche Bank has fired three New York-based currency traders, in the latest sign that a probe over alleged manipulation of foreign exchange markets is gathering steam. Diego Moraiz, Robert Wallden and Christopher Fahy were terminated by the bank, which told trading floor staff of the development on Tuesday, according to sources.
Australian finance bosses stress advancement of women
The Sydney Morning Herald reports that senior figures in finance have urged the industry to raise the number of women in top executive and director roles, by changing a culture that can limit female career progression.
While some big firms had lifted their game, there was more work to be done to ensure women took up top leadership positions.
