Billionaire Dhanin Chearavanont’s ambitions to create Southeast Asia’s largest retailer already wiped out $2.3 billion for CP All Pcl investors. Now, funding the industry’s most expensive bid may put more value at risk.
When billionaire Dhanin Chearavanont needed cash in 2005, he sold a stake in Thailand’s biggest wholesale chain for 60 baht a share. Eight years later, he’s offering 13 times that to reassemble his empire.
Nazir Razak, head of Malaysia’s second-largest bank, is speaking out for his brother to be returned as prime minister amid concern the ruling alliance could lose more seats in polls that must be held within weeks.
The world’s biggest equity bull market is propelling Philippine valuations to all-time highs as international investors pile into the country’s stocks in an endorsement of President Benigno Aquino’s economic policies.
Thai stocks tumbled the most in Asia and Philippine shares headed for their longest losing streak since 2008 amid growing concern that valuations are too expensive after reaching record levels this month.