Asian conglomerates being outrun by pure plays in their markets
Their total shareholder returns are falling as markets become more developed and competitive: Bain study
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Singapore
LAGGING Asian conglomerates must focus on renewal and growth in order to remain relevant and attractive, said analysts at consultancy Bain & Co, after their industry study released on Friday found that such companies recently underperformed pure plays in their markets.
The study analysed the performance of 102 conglomerates and 287 pure plays in South-east Asia and India and found that total shareholder return (TSR) dropped to 11 per cent for conglomerates from 2007 to 2016, compared with 12 per cent for pure plays in the same period.
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