FINANCE & CAPITAL | TRENDS
Paced by acquisitive companies in Singapore, Southeast Asia’s outbound M&A set a record for the year-to-date through June 17 of $26.6 billion, an increase of 73% from the same period a year earlier, according to Dealogic.
Among the largest proposed deals in the second quarter, Oversea-Chinese Banking Corporation offered to acquire Hong Kong–based Wing Hang Bank for $5 billion. Frasers Centrepoint, a Singapore-listed property company controlled by Thai billionaire Charoen Sirivadhanabhakdi, bid $2.4 billion for Australia’s Australand Property Group. Last year the Thai tycoon won control of Singapore drinks and property conglomerate Fraser and Neave.