It has taken almost a week, but one of China’s biggest scrap metal dealers is finally ready for a, er, scrap.
China Metal Recycling, a HK$11bn company, was targeted by a Californian short-seller and research company on Monday. Glaucus Research Group, a new name on the beat-em-up circuit, issued a report on Monday accusing the the Hong Kong-listed group of exaggerating the size of its business. Continue reading »
To the lengthening list of foreign companies beating a path to Myanmar, add at least two more: Wilmar, one of Asia’s largest agribusinesses, and Cargill, the commodities’ trader.
Wilmar, a Singapore-listed group and the world’s largest processor of palm oil by volume, told beyondbrics it planned to make “significant investments” focusing on rice, fertilisers, sugar and vegetable oil. Cargill told beyondbrics it was “exploring opportunities” in the southeast Asian country for importing and exporting food and livestock feed.
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Initial public offering windows are opening and closing faster than ever and the story of equity capital markets issuance globally isn’t great. The latest figures from Dealogic for south-east Asia underscore those grim facts.
The value of all equity raisings in the region so far this year – initial public offerings, rights issues and the like – is down 32 per cent to $7.3bn. This was the lowest level since the same period in 2009, when the figure was $6.8bn.
But Malaysia is bucking the trend – big time. Continue reading »