The Business Times
business-time-50

Japanese capital pours into South-east Asia, seeking growth

google-preferred-sourceAdd BT as a preferred source
Benjamin Cher

Benjamin Cher

Published Mon, Feb 5, 2024 · 05:00 AM
    • The acquisition of Singlife by Sumitomo Life is just one of many deals by Japanese corporates in South-east Asia. The favourable demographics in the region with a growing appetite for financing makes it very attractive to Japanese investors.
    • The acquisition of Singlife by Sumitomo Life is just one of many deals by Japanese corporates in South-east Asia. The favourable demographics in the region with a growing appetite for financing makes it very attractive to Japanese investors. PHOTO: BT FILE

    THE planned acquisition of insurance provider Singlife, valued at S$4.6 billion, by Sumitomo Life in December 2023 sent a strong signal that Japanese investors are still on the lookout for opportunities in South-east Asia, as they capitalise on their low cost of funds.

    Major banks have poured money into Indonesia, with Mitsubishi UFJ Financial Group (MUFG) investing US$100 million in lending platform Home Credit in December 2023, and a new 20 billion yen (S$181.2 million) fund with commercial Bank Danamon to focus on investing in the Indonesian market.

    In January this year, Tokyo Century Leasing’s Singapore subsidiary made a strategic investment in car services platform Motorist, valuing the business at US$60 million.

    TRENDING NOW

    Tribunal Magistrate Jared Kang described dismissal law as “a little more layered, difficult and unclear than it perhaps needed to be”.

    Firm loses wrongful dismissal case despite following termination clause

    The Vietnamese economy has long relied heavily on bank lending, straining commercial banks as they shoulder the bulk of the financing needed by companies and large infrastructure projects.

    Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks

    Soilbuild and its executive chairman Lim Chap Huat are reportedly seeking unspecified damages over Brookfield’s alleged breach of their agreement.

    Soilbuild’s Lim Chap Huat sues Brookfield, claims it reneged on joint venture: WSJ

    UOB’s asset quality was a recurring theme across all broker notes.

    Citi, OCBC downgrade UOB post-Q2 results; RHB upgrades on valuation

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More