A slowdown in M&A activities

Major transaction: An aerial view of Port of Tanjung Pelepas, which is operated by MMC Corp, in Gelang Patah, Johor. In October last year, MMC Corp offered to buy out Permodalan Nasional Bhd’s 53.42 stake in NCB Holdings Bhd for RM4.40 per share.

APART from the depreciating ringgit, the capital markets were rocked by a series of unexpected political events that slowed down the deal flows.

The year started with crude oil continuing its drop and China adjusting the yuan downwards. The markets reacted negatively to both events, but it did not stop companies from undertaking corporate exercises.