Facing each other across Singapore’s Orchard Road shopping belt, the malls owned by Singapore Press Holdings Ltd. and Overseas Union Enterprise Ltd. have competed for shoppers. Now, they will compete for investors.
Christopher Wong , who helps oversee $70 billion of assets at Aberdeen Asset Management Plc, commented on Asia’s emerging stock markets after China increased banks’ reserve requirements to lock up cash and cool inflation.
Philippine billionaire John Gokongwei is planning an initial public offering of Robinsons Retail Group, the operator of supermarkets and department stores, said three people with knowledge of the matter.
Emerging-market stocks slid the most in a week, led by energy companies, as China Petroleum & Chemical Corp. sank on a share-sale plan. The rand strengthened after South Africa’s unemployment unexpectedly fell.
Prudential Plc’s Tidjane Thiam tried and failed to expand in Asia by buying AIA Group Ltd. , his first test as chief executive officer. To succeed now, he will have to beat AIA’s new CEO and his ex-boss, Mark Tucker .
Goh Choon Phong , the incoming chief executive officer of Singapore Airlines Ltd. , will face growing competition for both premium and economy-class passengers in Asia as he tries to revive profits from a two-decade low.