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Would you wait in line for more than 12 hours to get a red packet from Pony Ma? One Tencent employee did

Those people are not lining up to buy new iPhones, Lady M’s signature mille-crepes cake, or HeyTea’s cheese-topped drink. They are employees of Tencent Holdings waiting outside the internet giant’s headquarters in Shenzhen to receive red packets from company chairman Pony Ma Huateng and other senior management. A long line started forming from Tuesday morning for a chance to get a second of face time with Ma, who in Lunar New Year tradition personally hands out red envelopes containing money to employees as a form of good wishes. The most…

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Vietnam 

Experts upbeat about MA scene in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Thai Beverage’s deal to buy a US$5 billion or 54 per cent stake in top brewer Sabeco has been the country’s biggest ever privatisation process so far. — VNA/VNS Photo Chương Đài Viet Nam News HÀ NỘI — Experts have predicted a banner year for merger and acquisition (M&A) activities in 2019 thanks to recent positive developments. According to Vice Chairman of the Việt Nam Foreign Investment Business Association Nguyễn Văn Toàn, M&A deals surged 160 per cent to US$9.9 billion in 2018, making disbursement of foreign direct…

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Tencent CEO Pony Ma and other Chinese tycoons born in the Year of the Pig

This week marks the start of the Year of the Pig – the final Chinese zodiac animal in a 12-year cycle. According to Kay Tom, a UK-based master in feng shui and horoscopes, those born in the Year of the Pig – 1935, 1947, 1959, 1971, 1983, 1995 and 2007 – are honest leaders, often employers, who are focused on achieving goals and are not afraid of responsibility. Many are entrepreneurs and success is a common trait. “The pig is the 12th animal, so he represents the leader from the…

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More Chinese companies scramble to issue profit warnings as debris field from M&A boom begins to surface

Hundreds of Chinese companies have revised their earnings outlook for 2018 before a deadline late Thursday, warning that results will fail to meet expectations as economic growth eases, forcing heavy write-downs. Of 2,488 companies that made preliminary announcements, more than 280 revised their estimates, while 59 warned earnings would be down by more than 66 per cent from their previous estimates. Among those warning of the sharp downward revision, 42 cited impairment of goodwill as a factor. Goodwill is an accounting term referring to an intangible asset class arising from…

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Ecommerce 

Technological revolution could plunge us into another world war, Chinese billionaire Jack Ma warns Davos

Jack Ma Yun, the chairman of Alibaba, has told the Davos summit that the world should be alert to the risk that the latest technological revolution will trigger another world war. The Chinese e-commerce billionaire told the World Economic Forum’s annual meeting in Switzerland that the rise of new technology, while bringing positive change to the world, was bound to create social problems. But he also expressed his innate trust in the ability of technology to do good. “First, as a technology company, we believe that technology is great for…

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Vietnam 

Buôn Ma Thuột to organise 7th coffee festival – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The seventh Buôn Ma Thuột coffee festival will be held in March in the Central Highlands province of Đắk Lắk with a wide range of activities featuring local specialties, including locally produced coffee beans. Themed “Quintessence of the Great Forest”, the biennial festival will take place from March 9-16 with diverse programmes. Speaking at a press conference held on Tuesday in Buôn Ma Thuột, Nguyễn Tuấn Hà, vice chairman of the province people’s committee, who is deputy head of the festival’s organising board, said…

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Minsheng sets up M&A fund with CICC as China tightens control on private education sector

Minsheng Education Group, a Chinese private college and high school operator, will set up a merger and acquisition fund with investment bank China International Capital Corporation (CICC), according to a filing to the Hong Kong stock exchange on Wednesday. The move comes amid mounting worries over China’s tightened controls on the expansion of private schools through M&A deals, which has hammered the Chinese education stocks around the world. The fund – a partnership with CICC’s fund management arm CICC Capital – aimed to raise 10 billion yuan (US$1.5 billion) over…

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Vietnam 

MA dispute arbitration key: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Experts say arbitration is good for resolving disputes related to mergers and acquisitions at a conference held in HCM City on December 20. — VNA/VNS Photo Việt Dũng Viet Nam News HCM CITY — Vietnamese and foreign firms are increasingly resorting to arbitration for settling disputes related to mergers and acquisitions, experts told a conference in HCM City on December 20. Lawyer Đặng Xuân Hợp, an arbiter from the Việt Nam International Arbitration Centre (VIAC), said alternative dispute resolution (ADR) is being used more and more. Arbitration…

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China 

China’s M&A loans slump for second year due to US trade war tensions

Chinese acquisition-related loans look set to end 2018 lower for the second year running with prospects of a turnaround looking dim as a trade war with the United States crimps appetite for overseas deals. Event-driven loans made by Chinese firms in foreign currencies are down 41 per cent this year to US$18.2 billion from US$30.7 billion in 2016, according to Bloomberg-compiled data. Those deals include acquisition financing, leveraged and management buyout facilities and secondary buyout loans. Overseas volumes have slumped amid tighter Chinese government scrutiny and a crackdown on capital…

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Fintech M&A deals set to grow globally over next two years, according to survey by US law firm

Merger and acquisitions activity in the financial technology sector is likely to grow substantially over the next two years globally, with banks, financial institutions and fintech-focused private equity and venture capital firms all prepared to spend more money on deals, according to a survey of 100 senior financial executives by US law firm Reed Smith. “Deal making is only going to increase in the future,” the report quoted a venture capital executive as saying. “With so many technological advances in the sector, we must all be prepared to invest to…

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