Standard Chartered has been planning to buy the wealth management unit of Morgan Stanley in India. Standard Chartered Plc has been in negotiation to purchase the Indian private wealth management of Morgan Stanley, according to two sources close to the matter.
Asia/Pacific
Suzion Share Values Fall on Share Sale
Suzion share prices fall amidst sale and debt issues. Shares for Suzlon Energy of India fell by 45% as investors admitted trepidation on the wind turbine manufacturer's debt diluted shareholding ration after sale of founder's shares was made.
India Cipla to Take Over South Africa Cipla
Cipla Ltd offers to take over Cipla Medpro South Africa. Two Ciplas from two continents would merge into one. Indian pharmaceutical company Cipla Ltd increased its offer by 17% to fully acquire South African drug company Cipla Medpro South Africa Ltd.
Morgan Stanley Announces Sale of Service Business
The EMEA GSPS business of Morgan Stanley has been sold to Compuetershare. In an announcement, Morgan Stanley had reached an agreement to sell the EMEA market of its Global Stock Plan Services .
Private Equity Scams Prevail in China
Scams on fraudulent private equities rob individuals of hard earned money. The city of Tianjin in China was rocked with controversy as thousands of retail investors claimed they were tricked by a group that offered illegal wealth management products.
Latest News
Giant mall builder to expand to UK and US. Westfield Group is planning to increase its investments in both the US and UK to capitalize on the increasing retail demands in these countries.
Westfield Retail to payout earnings to its customers. Australia's second largest property trust by market value, Westfield Retail Trust is in the process of taking out loans to fund its Aus$1.
Air Asia pays out biggest dividend policy. The Asian region's largest discount carrier, Air Asia Bhd has reported a ten-fold increase in share values in almost ten months.
China Asset Management predicts rebound in Chinese stock prices for 2012. According to China Asset Management Co, stocks of Chinese companies would rally in value as the government continues to find ways to augment the economic recovery of the country.
Etihad nearing deal for stake in India's Jet Airways. For the price of US$70 million, Abu Dhabi's Etihad Airways purchased Jet Airway's slots at Heathrow Airport in London.
Orbimed expands into Indian healthcare industry. Orbimed Advisors of New York is now preparing to launch its second Pan Asia Healthcare Fund by the end of 2013.
Sinopec gets sweetheart deal according to analysts. The US$1. 02 billion deal entered into China Petrochemical for Chesapeake Energy Corp shale oilfield interests is just one third of its actual value.
The government of Japan is making plans for the sale of Japan Tabacco's 17% stake. Japan's government has been in preparation to make sale of almost 17% of long-held state asset Japan Tobacco, expected to fetch up to about %10 billion, according to sources.
The investment arm of Tower Ltd. was purchased by fund manager Fisher Funds for NZ$79 million. New Zealand's insurance firm Tower Ltd. said its investment arm was sold to fund manager Fisher Funds in a NZ$79 million deal as it nails down its business focus, the company announced.
