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June 28th, 2018

Private equity floods into Southeast Asia

Western funds bet big on rapid growth and market reforms

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The Big Story

How private equity is shaking up Southeast Asia

Western funds rush in as market reforms and rapid growth open up new opportunities

Illustrations by Eric Chow
Mekong Capital describes its investment in Mobile World as one of its best deals ever. The Vietnamese company is now expanding its Big Phone chain of stores in Cambodia. (Photo by Masayori Ishikawa)
The Big Story

Southeast Asia's private equity firms have a secret weapon

Local funds rely on insight, not size, to find deals that bigger rivals may miss

Japanese Prime Minister Shinzo Abe bows as the regulatory bill on integrated resorts passes at the House of Representatives in Tokyo on Tuesday. (Photo by Uichiro Kasai)
Multinationals in Asia

World's casino giants bet big on the golden Japanese market

Government legalizes gambling despite strong public opposition

Daisuke Okanohara, left, and Toru Nishikawa of Preferred Networks in the company’s lab in Tokyo. The duo are drawing comparisons with the two men who founded Sony. (Photo by Maho Obata)
Startups in Asia

Last Japanese unicorn in pipeline talks big to beat Google in AI

After Mercari's successful IPO, Preferred Networks aims high with new technology

SoftBank CEO Masayoshi Son speaks during the annual general shareholders meeting in Tokyo on June 20. (Photo by Wataru Ito)
Business

'We are unicorn hunters,' says Masayoshi Son

CEO of SoftBank group claims WeWork can be next Alibaba

Mercari co-founder and CEO Shintaro Yamada (center, with red tie) and his employees pose during a ceremony for the company's stock market debut at the Tokyo Stock Exchange on July 19. (Photo by Ken Kobayashi)
Business trends

After Mercari, Japanese unicorns closer to extinction

Reluctance of venture capital to invest stifles startup scene

Some Samsung factory workers would have their hours adjusted so as not to exceed the new national 52-hour week -- when averaged out over three-month periods.
Companies

Samsung gets serious about fighting overwork

Conglomerate to broaden flextime options in face of South Korea overtime cap

Samsung's AI push includes opening international development centers and hiring renowned international researchers.
Asia300

Samsung grabs AI talent to quicken growth beyond memory chips

Out of prison, chief Lee Jae-yong leads effort to build new earnings pillar

A vegetable and fruit market near railway station in Yangon. Dagon International plans to modernize these market with more equipped facilities (Photo by Yuichi Nitta)
Companies

Myanmar developer Dagon adds more agribusiness to its diet

Company plans $100m industrial park for food-makers after opening vegetable market

Motherson Sumi Systems plans to make its in-car wireless charging system into a broad line of products when it is commercialized, possibly in 2021. (Photo by Ken Kobayashi)
Business

India's Motherson Sumi eyes huge potential for in-car wireless charging

Tie-up with US venture Ossia hopes to commercialize the system in 2021

Hyundai has sold 4,400 units of its Kona Electric subcompact SUV since its introduction in June.
Business

Hyundai's electric SUV scores surprise hit in Norway

Orders reach double the annual target for the Kona in the major electric car market

PTT hopes to diversify away from oil and gas businesses.
Business deals

Thai PTT reaches deal for French company's unit

The $4bn purchase of Glow Energy to be funded by loans, debt issuance

Innolux potentially gains steady U.S. demand for televisions through the Vizio deal as Foxconn prepares to build a manufacturing plant in Wisconsin.
Business deals

Foxconn group to buy stakes in American TV brand Vizio

Along with Wisconsin plant, investment accelerates US expansion

© Illustration by Luis Mendo
Asia Insight

China's scrap plastic ban saddles neighbors with piles of problems

Thailand and Vietnam struggle with redirected waste but is there a silver lining?

In the South Pacific, ordinary citizens have been expected to remain on the sidelines of decision-making, but Facebook is changing that, much to the consternation of the political elite.
Politics

Pacific nations out to limit Facebook political chatter

Papua New Guinea and Samoa propose blocks on the social network

North Korean leader Kim Jong Un tours an agricultural research facility in Beijing. 
N Korea at crossroads

Kim courts China but finds his economic muse in Vietnam

North Korea sees Hanoi model as way to win US support and South Korean investment

Artisanal miners work at a copper-cobalt mine in the Democratic Republic of the Congo.
International relations

'Resource nationalism' clouds China's Africa ambitions

World's second-largest economy may find it harder to get what it needs to grow

China has put economic structural reforms on hold for the time being, opting for growth-friendly policies.
Economy

China shifts economic policy as it braces for trade clash

Banks to buoy state-owned companies with $150bn in debt-equity swaps

Nissan's plant in Aguascalientes, Mexico, came online in 2013. The automaker regards its Mexican operations as some of its most cost efficient.
Trade war

Trump car tariff threat sends Japan on search for escape route

A 25% levy could mean $21bn in lost earnings for Toyota, Nissan and peers

Stream article image
Datawatch

Trump tweets show growing affinity for Asia - it's in the data

Sudden upturn in positive sentiment falls on deaf ears

Thailand's latest public anger involves rising energy prices, causing social-media-driven boycott.
Opinion

Little to 'like' about Thai junta's economy

Facebook protests over rising prices must prod generals into structural reforms

Malaysian Prime Minister Mahathir Mohamad faces challenges in reversing the trend of rampant cronyism.
Opinion

Asian governments must escape the 'state capacity' trap

Mahathir has a golden opportunity to build legitimacy for economic development

Japan's Prime Minister Shinzo Abe and U.S. President Donald Trump at their joint news conference at the White House in Washington on June 7
Opinion

North Korea talks deepen Japan's dilemma

While Trump and Kim warm up ties, Tokyo is left in the cold

U.S. Ambassador to the United Nations Nikki Haley announces the U.S.’s withdrawal from the Human Rights Council on June 19.
Editorial

Trump's inattention to human rights is a blow to democracy

By leaving the UN rights council, Washington risks empowering strong-arm leaders

Sumitra Senapaty, the founder of WOW Club travel agency, wants to convince women that they need their "me time."  (Courtesy of WOW Club)
Life

Startups put safety first for Indian women travelers

Female-led tours encourage the wary to explore

Paul Ferber, a Briton, has gained praise from Cambodian authorities and international conservationists for his work to save the country's marine life. (Photo by Denis D. Gray)
Life

Cambodia volunteers step up battle against illegal fishing

'Annihilation trawling' threatens once-bountiful marine environment

Shoppers carry designer label branded bags at Bicester Village in the U.K.
Tea Leaves

From Beijing to Bicester: surviving the age of 'Amazonification'

Hordes of Asian shoppers in UK town present flipside of tourism nightmare