M&As in ASEAN surge
Print Edition
CHINESE mergers and acquisitions in ASEAN countries soared in 2017 despite a slump in overall outbound investment, thanks largely to the Belt and Road initiative, a report said.
In 2017, the deal value of Chinese M&As in ASEAN surged 268 percent to US$34.1 billion, representing a quarter of the total value of disclosed Chinese M&As, accounting firm Ernst & Young said in a report.
“Taking advantage of its geographic location as a trade hub under the BRI, ASEAN has achieved steady growth in recent years,” said Andrew Choy, EY’s China International Tax Services Leader.
China and ASEAN are set to further boost their relationship and expand broader cooperation under the BRI, Choy said.
Proposed by China in 2013, the BRI aims to build trade and infrastructure networks connecting Asia with Europe and Africa along ancient Silk Road trade routes.
Singapore has become China’s biggest M&A destination in 2017 as M&A activities by Chinese enterprises surged, mainly in transport, technology, telecommunications and life sciences sectors, according to the report.
Malaysia and Indonesia also offer plenty of investment opportunities, the report said.
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