Dai Xianglong of the National Social Security Fund recommends state controlled enterprises In a quote of the National Social Security Fund council's party secretary, he is proposing that Chinese state-owned enterprises transfer 30% of their capital gains and ownership shares exceeding 51% to the fund.
Asia/Pacific
Woodbridge Opens India Headquarters
Woodbridge opens its India office amidst its cross border successes. Woodbridge International, a middle-market merger and acquisition firm, has announced the opening of its Pune, India headquarters.
Suntech to Sell Off Italian Assets and Shareholdings
Suntech, in a bid to trim its debt, it would be selling off its Italian assets and shareholdings. A company spokesman said that Suntech Power Holdings Co.
Panasonic to sell off part of shareholdings in healthcare unit
Panasonic of Japan is selling part of its shareholdings in its healthcare unit for expansion plans. Panasonic Corp of Japan has engaged the services of Bank of America Merrill Lynch in order to sell a part of its healthcare subsidiary, The deal could raise as much as US$1 billion for the electronics company, according to two sources familiar with the transaction who spoke on condition of anonymity.
China Interested in Kashagan Oil field Share
China interested in purchasing the ConocoPhillips share in the Kashagan oil field in Kazakhstan. China has indicated an interest in purchasing a stake in US oil company ConocoPhillips in a multinational consortium aiming to develop Kazakhstan's Kashagan oil field.
Latest News
LVMH purchases nearly half of RM Williams of Australia. A private investment fund financed by a French luxury brand LVMH Group has bought 49. 9% of Australia's R.
Actis owned stake in Avtec would be acquired by Warburg Pincus. Warburg Pincus, the American private equity firm, has purchased a minority share in Avtec, the engineering equipment manufacturer.
ING NV would be launching its sale of its US$1.2 billion shareholdings in TMB Bank after the May 5 elections.
Mando's plan to invest in Halla Engineering beyond its means forces Midas to divest its shareholdings in Mando.
Glencore to agree to concession requirements to achieve regulatory compliance for Xstrata merger. Glencore is now in the process of confirming concessions in order alleviate Chinese worries over its stranglehold on the existing copper supplies.
Woori Chairman resigns amidst declining share values. Lee Pal Seung, Chairman of Woori Finance Holdings Company, plans to resign prior to the South Korean government's fourth plan to sell its shares in the country's largest financial service group.
Cordiant Capital would be offering loans to emerging markets through its Cordiant Emerging Loan Fund IV.
Amidst its insider trading investigation, SAC Hong Kong has lost five staff members and moved three others to other SAC offices.
SAC Capital Advisors has lost seven Hong Kong staff and relocated five others, but the hedge fund had declined to explain the departures.
