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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
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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. |
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Japan - HSBC
launches wealth arm
source: Japan Times, 1
February 2008
HSBC Holdings
has entered the private banking business in Japan by opening two
dedicated offices in Tokyo's upscale Akasaka and Hiroo districts to
serve the investment needs of individuals with financial assets of
at least Y10 million. The UK-based bank plans to set up four more
such outlets, called HSBC Premier Center, in Tokyo and one in Osaka
in 2008 before expanding into other major
cities.
HSBC is
one of an increasing number of foreign and Japanese banks seeking to
provide financial advisory services to Japan's affluent savers who
have long parked most of their money in bank deposits. Citigroup is
also expanding its retail branch network from 31 to 50 over the next
few years.
Korea - Internet banking
surges 40%
Source: Korea Herald, 1 February
2008
Internet
banking use jumped 40% in 2007 from a year earlier as people are
finding online financial transactions more convenient. According to
the Bank of Korea, the number of daily transactions via internet
banking surged to 17.9 million as of 31 December 2007, up from 12.8
million a year earlier. Internet banking services include money
transfers, balance checking and loan applications.
The number of
internet banking subscribers registered with 17 local banks, the
Korea Post and HSBC reached 44.7 million as of 31 December 2007, up
24.5% from a year earlier. By age, 34.5% of internet banking
subscribers were in their 30s, 29.3% were in their 20s and 19.9%
were in their 40s.
Taiwan - DBS takes over
failed Taiwan Bowa Bank
Source: Reuters, 2
February 2008
Singapore's DBS Bank has won an auction to acquire the
"good bank assets" of Bowa Bank in Taiwan. Under the terms of the
transaction, DBS will acquire Bowa's net loans of approximately
NT$66.3 billion (US$2.1 billion), and another NT$92.3 billion
(US$2.9 billion) of deposits. The deal will also give DBS access to
39 branches, three business units and over 750,000 depositors in
Taiwan.
DBS
joined other global banks and private equity investors, including
HSBC, Citigroup, Standard Chartered and the Carlyle Group, to
acquire Taiwan banks to expand their presence in Asia's
third-largest wealth management market and fourth-biggest banking
market.
View an example of our experience in this
industry.
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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
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