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Hong Kong protests spook owners of co-working space operator The Executive Centre, who drop planned US$750 million sale

The boss of shared office-space operator The Executive Centre (TEC) said the decision to place on hold a planned sale of its shares for US$750-million was “sensible” given the uncertainty gripping Hong Kong amid unprecedented social unrest.“Placing a pause on the shareholder sales process is a sensible reaction to the unknown unknowns of the current political and social issues being played out in Hong Kong,” said Paul Salnikow, chairman and chief executive of the Hong Kong-based company.The… Source link

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Mary Ma, former Lenovo executive instrumental in the takeover of IBM’s personal computer business, dies at 66

Mary Ma Xuezheng, a Lenovo executive who was instrumental in the US$1.75 billion acquisition of IBM’s personal computer division in 2004, died on Saturday. She was 66.The cause of her death was not known, but the Chinese publication Caixin reported that the founding partner of Chinese private equity firm Boyu Capital was suffering from pancreatic cancer.Ma, an executive director of Hong Kong-listed Lenovo Group, was in March appointed to the Hong Kong Stock Exchanges and Clearing’s board as an… Source link

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Chinese sportswear maker Li Ning’s shares jump to nine-year high as former Uniqlo executive Kosaka Takeshi appointed joint CEO

Li Ning, the Chinese sportswear maker whose shares have more than quadrupled in the past two years, may get another boost to its stock-market performance.The Beijing-based company, which was founded by the Olympic gold medal-winning gymnast of the same name, said it has hired Kosaka Takeshi from Japanese clothing retailer Uniqlo as its joint chief executive officer, alongside Li Ning himself.Kosaka, a Japanese-Chinese, was formerly the chief operating officer of the Chinese unit of Uniqlo, Asia… Source link

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Vietnam 

VN firms must act fast on digital transformation or be left behind: FPT executive – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Phan Thanh Sơn of FPT Information System giving a speech during a forum on digital transformation in HCM City on August 17. — VNS Photo Việt Dũng HCM CITY — Vietnamese businesses need to consider digital transformation soon in order to not be left behind in the ongoing industrial revolution, Phan Thanh Sơn, chief business development officer of FPT Information System, told Việt Nam News. On the sidelines of a forum on August 17, he said: “Digital transformation is no longer a matter of should or should not, but a…

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Investment 

Hong Kong’s biggest corporate chieftains are better off than shareholders as median executive pay outstrips stock performance

Tencent Holdings, China’s largest games publisher, is now the biggest pay master among Hong Kong-listed companies. From left: Chief Strategy Officer James Mitchell, President Martin Lau Chi-ping, Chairman and CEO Pony Ma Huateng and CFO John Lo Shek-hon during an event on 21 March 2018. Photo: SCMP/Winson Wong Source link

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Can ex-Huawei executive help ByteDance crack the tough smartphone market?

Diehard fans of short video app TikTok – known as Douyin in mainland China – may soon have a new smartphone option tailored to their streaming lifestyle.Seven months after ByteDance acquired patents from Chinese niche phone maker Smartisan, the developer of the ubiquitous TikTok is now one step closer to launching its own smartphone.A company spokeswoman on Monday confirmed a report in the country’s financial news outlet Caijing about the ongoing development, adding that the new phone is “a… Source link

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Too early to tell who will emerge 5G winner as tech innovation still to unfold says Cisco executive

Emerging economies should not sit out investing in 5G just because the US and China are competing head on in the next-generation mobile network technology, as the ultrafast telecoms infrastructure will bring benefits to all, according to a Cisco executive.“[Smaller countries] sometimes don’t feel like they can win. But emerging economies can benefit … they [should] invest and compete,” Guy Diedrich, global innovation officer at Cisco, said in an interview last week in Hong Kong. “We have to… Source link

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Deutsche Bank overhaul could see new investments, hiring in Asian operations, APAC chief executive says

Deutsche Bank is cutting 18,000 jobs and shuttering its equity sales and trading business worldwide as part of a massive restructuring after years of struggling with profitability, but Werner Steinmueller sees opportunity in the upheaval.The bank’s Asia-Pacific chief executive said the capital released by closing the equity trading operations will allow the company to reinvest in its Asian business, expand its corporate bank in parts of the region and add jobs in its wealth management business … Source link

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Singapore 

Ex-bank executive found guilty of sharing information to promote child sex activities, Singapore News

SINGAPORE – A senior bank executive formerly with Deutsche Bank met up with four other men in Singapore and shared with them information to promote child sex activities in the Philippines. German national Michael Frank Hartung, who used to earn $250,000 a year, was unaware that the other men were undercover police officers. After a trial of more than 20 days, District Judge Ng Cheng Thiam on Friday (July 12) found the 48-year-old Singapore permanent resident guilty of two counts of distributing such information to the men, identified only as Michael,…

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Volatile stock prices are driving Singapore’s Temasek to look at private assets, chief executive Pillay says

Temasek International Chief Executive Officer Dilhan Pillay says the S$313 billion (US$230 billion) investment firm will be more cautious when investing in the public markets this year as it increases bets on unlisted companies globally.In his first interview since taking over the role in April, Pillay told Bloomberg Television that the past year had shown it was almost impossible to accurately predict geopolitical events. About 42 per cent of the Singapore government-backed investor’s assets… Source link

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