India

Property

Temasek is principal investor in new Ascendas-Singbridge's India logistics property JV

SINGAPORE (June 6): Ascendas-Singbridge, the urban development and business space solutions provider, has launched Ascendas India Logistics Programme with investment company Temasek as its principal investor.

Property

Ascendas India Trust to acquire two buildings in Navi Mumbai for $186 mil

SINGAPORE (May 14): The trustee-manager of Ascendas India Trust (a-iTrust) has entered into a forward purchase agreement to acquire two buildings in Navi Mumbai, India for a total of 9.3 billion Indian rupees ($186 million).

Broker's Calls

Sembcorp gets an upgrade despite substantial 1Q earnings miss

SINGAPORE (May 9): Phillip Capital is upgrading its call on Sembcorp Industries to “buy” with a lower target price of $3.83 compared to $3.86 previously due to the higher expected return from the counter’s last closing price of $3.06.

M&A

Bharti unit to merge with Indus, creating US$14.6 bil firm

MUMBAI (Apr 25): Bharti Airtel agreed to merge a unit with closely held Indus Towers in a deal that creates a US$14.6 billion ($19.4 billion) telecom tower operator that would be the largest outside China.

M&A

IHH raises Fortis bid with $130 mil equity injection & subsequent infusion of up to $667 mil

SINGAPORE (Apr 25): IHH Healthcare is upping is bid for a stake in Indian healthcare provider Fortis Healthcare with a revised proposal that includes, among others, an immediate primary equity injection of 650 crore rupees ($130 million) by way of issuing

Broker's Calls

First Resources & Wilmar among gainers from India's CPO duty hike

SINGAPORE (Mar 5): CIMB is maintaining its “neutral” call on the agribusiness sector while maintaining its average crude palm oil (CPO) price forecast of RM2,700 per tonne ($913.33) for 2018.

Broker's Calls

New strategy puts a positive spin on Sembcorp Industries' outlook

SINGAPORE (Feb 26): Analysts are optimistic on the outlook of Sembcorp Industries (SCI) post the outcome of its strategic review, even as the group last week reported a 84.6% decline in its 4Q earnings to $22.8 million as its marine segment continued to d

BreadTalk signs franchise agreement to expand into India

SINGAPORE (Jan 18): BreakTalk Group's wholly-owned subsidiary BreadTalk has signed a franchise agreement with Bakekneads, a member of the Som Datt Group of Companies, to establish the BreadTalk bakery chain in Delhi and National Capital Region (Delh

Sarine to sue overseas manufacturer for fraudulent misuse of Galaxy system

SINGAPORE (Jan 4): Sarine Technologies and its wholly-owned subsidiary, Galatea, are taking legal action against an unnamed manufacturer in Surat, India, for the deliberate under-reporting of rough stone weights and underpayment of amounts owed to Galatea

Global Economy

China, India and Japan will be among largest economies by 2032

(Dec 26): The growing importance of Asia’s major economies will continue in 2018 and beyond, according to a league table that sees the region dominating in terms of size in just over a decade.
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