Southeast Asia News
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Mitsubishi Motors Corp. plans to reorganize its capital to help unload the worst accumulated losses in the automotive industry.
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HSBC Holdings Plc and DBS Group Holdings Ltd. are planning the first-ever sales of yuan- denominated bonds in Singapore as the city competes with Hong Kong and Taiwan as an offshore hub for the currency.
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Standard Chartered Plc, which generates more than three quarters of operating profit in Asia, will tap rising demand for wealth management products in Southeast Asia to bolster growth, Chief Executive Officer Peter Sands said.
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Not many finance professionals who cover Indonesia’s biggest property companies have heard of The Ning King, the 82-year-old founder of closely held Indonesian conglomerate Argo Manunggal Group.
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Singapore’s economy unexpectedly expanded last quarter as services and construction strengthened, reducing pressure on the central bank to ease monetary policy.
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Air Incheon Co., South Korea’s first cargo-only airline, plans to start services this year to smaller cities in China, where Samsung Electronics Co. and Apple Inc. assemblers are increasingly locating their factories.
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Axiata Group Bhd., Malaysia’s largest mobile-phone operator, is evaluating a bid for PT Axis Telekom Indonesia, three people with knowledge of the matter said.
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DBS Group Holdings Ltd. got approval from Indonesia’s central bank to acquire a $2.75 billion stake in PT Bank Danamon Indonesia, giving Southeast Asia’s largest lender less control than it had sought.
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Vietnam will find it “difficult” to cut interest rates further this year, central bank Deputy Governor Nguyen Dong Tien said, as the nation moves to create an asset company that would clean up bad debt and revive growth.
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Temasek Holdings Pte, Singapore’s state-owned investment company, boosted its stake in Industrial & Commercial Bank of China Ltd. for the third time in a year as Goldman Sachs Group Inc. exited its seven-year-old investment.
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