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Asia buyout firms are struggling with Covid-hit portfolio
HONG KONG: Baring Private Equity Asia and CITIC Capital have sold the China business of Wall Street English (WSE) at a deep discount in just over two years since acquiring it as the Covid-19 pandemic crippled the global language tutoring group, sources told Reuters.
Quick take: MyEG shares up 4% in heavy trading
KUALA LUMPUR: Shares of My E.G. Services Bhd (MyEG) surged amid active trading on Thursday after unveiling artificial intelligence-powered (AI) coronavirus Covid-19 risk profiling system.
Citic to sell 22% stake in McDonald’s China for US$300mil
HONG KONG: Chinese state-owned conglomerate Citic Ltd is planning to significantly reduce its stake in McDonald’s China Co more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit.
Citic to sell 22% stake in McDonald’s China for US$300m
HONG KONG: Chinese state-owned conglomerate Citic Ltd. is planning to significantly reduce its stake in McDonald’s China Co. more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit.
Secondhand sector rides tech wave
THE secondhand economy, supported by the consumption upgrade and advanced Internet technologies, is set to create a trillion-yuan market in China, according to industry insiders.
China’s co-working industry turns to services
CO-WORKING space operators in China are shifting their focus from ambitious expansion plans to services such as customising offices for clients, as rising vacancy rates and tighter financing slow their exponential growth of the past two years.
Canada pension fund mulls opening first China office
HONG KONG: Canada Pension Plan Investment Board (CPPIB), which manages around C$368.5bil (US$277bil), is considering opening its first office in China as it seeks greater exposure to the world’s second largest economy.
Canada's biggest pension fund mulls opening first China office
HONG KONG: Canada Pension Plan Investment Board, which manages around C$368.5 billion ($277 billion), is considering opening its first office in China as it seeks greater exposure to the world’s second-largest economy.
Hormel eyes Chinese wasabi maker
HONG KONG: Hormel Foods Corp, the maker of Spam canned meat and Skippy peanut butter, is among suitors studying potential bids for Chinese condiment producer Jiahao Foods, a source said.
China NIO's SUV Versus Tesla's Model X: Battle of EVs
Chinese startup NIO marked its entry last week into the world’s biggest market for electric cars with a sport utility vehicle priced cheaper than Tesla Inc’s Model X.
