The Weekly News Update is a weekly roundup of business news from around the Asia-Pacific region, covering Fusion Consulting's core industry practices: chemicals, consumer & retail, financial services, industrial & logistics, information & communication technology, life science and media & leisure. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.       Merging with the Mainland: China's M&A opportunities   M&A activity in China continues to surge, thanks to strong economic growth and  private equity activity. With regulatory changes in 2006, several sectors should see  further M&A action in 2007 and beyond. Find out where the opportunities lie.

Financial services

Hong Kong - Stanchart may bid for stake in Wing Lung Bank Source: China Daily, 21 March 2008 Standard Chartered may bid for a US$1.9 billion stake in Hong Kong's family-controlled Wing Lung Bank. Industrial & Commercial Bank of China, China Merchants Bank, China Construction Bank Corp. and Australia and New Zealand Banking Group are also among possible suitors. Wing Lung has 35 branches in Hong Kong, two outlets in Shanghai and Shenzhen and one sub-branch in Nanshan district in southern China. Chairman Michael Wu and his extended family are seeking bidders for their 63% stake. A takeover would be the first of a Hong Kong-traded bank in more than four years and may prompt other family-run lenders such as Wing Hang Bank to seek buyers. Singapore - More private banking outlets set up Source: Straits Times, 22 March 2008 The wealth management business continues to boom in Singapore with ABN Amro opening its fifth and largest Van Gogh Preferred Banking Centre. As if to underline the strength of the private banking sector, Australia's Macquarie Private Bank launched its Asian operations with the opening of a Singapore office. Singapore now has about 40 private banks. Merrill Lynch-Capgemini said the number of ultra-high net-worth individuals - those with more than US$30 million each in financial holdings - in the Asia-Pacific had risen by 12.2% to 17,500 in 2006. The number of millionaires in Singapore had shot up by 21.2% in 2006 - the fastest growth rate in the region. Thailand - No slowdown seen in credit-card usage Source: Bangkok Post, 22 March 2008 The slow economy has not discouraged the public from holding more credit cards and increasing spending through cards. The survey by the University of the Thai Chamber of Commerce also shows a rise in the use of cards for cash advances. Nearly 25% of all credit card spending would be for cash withdrawals. There were 12 million credit cards in Thailand as of January 2008 with holders having two to three cards each on average. This translates into about four to six million cardholders, up from 3.7 million to 5.4 million estimated last year. The centre predicted that there would be 13.4 million credit cards by the end of 2008, up by 11.3% from 2007. Total card spending is projected to grow by 15.2% to Bt968.6 billion (US$31 billion) in 2008.     View an example of our experience in this industry. Back to list of articles.  Visit our website to sign up for free intelligence on Asian markets.

This Weekly News Update is a free newsletter, providing a round-up of the week's Asia-Pacific news from our core industry practices. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.

Fusion Consulting is a business intelligence consultancy providing clear strategic advice on Asia-Pacific markets. With offices in Shanghai, Singapore and Hong Kong and 400 industry consultants in 16 countries, we conduct custom research and consulting to help companies understand their markets, compete more effectively and grow into new areas of opportunity. Email more@fusionc.com or visit www.fusionc.com for more information.