Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment :: ACCOUNTING STANDARD :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: list of goods taxed at 4% :: due date for vat payment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company
 
 
« Mergers and Acquisitions »
 Why Gulf mergers and acquisitions are back on the rise
 Sebi issues listing norms for NCDs in mergers and acquisitions
 Indian chemical industry: Will M&A be a game changer?
 Samsung to continue seeking mergers and acquisitions
 Deals of the day-Mergers and acquisitions May 18, 2017,
 Forced mergers, sacking on cards as RBI gets tough with misfiring big banks
 Why India Inc is on an M&A spree, preferring inorganic growth to investing in fresh projects and capacities
 Banking consolidation 2nd wave: FinMin sees room for 3-4 more PSB mergers
 Ministry of Corporate Affairs (MCA) notifies the provisions of cross-border mergers and acquisitions
  GAVS Tech eyes to double revenue from mergers & acquisitions
 ACC, Ambuja Cements evaluating merger

Asian fin sector, says PwC
July, 22nd 2010

Asias quick recovery from the global economic slump could spur a buying spree among local banks, insurance companies and other financial institutions that will create super regional players , PriceWaterhouse Coopers said on Wednesday.

The consultancy firm said in a report that the global economic shakeout in the past two years had paved the way for financially stable Asian institutions to scout for opportunities, as troubled Western banks sold or scaled down their operations in the region.

It said mergers and acquisitions among Asias financial institutions are expected to increase in the next 12 months, led by regional banks based in Australia, Singapore and Malaysia who had shelved expansion plans amid the global crisis.

The storm clouds that previously engulfed the merger and acquisition markets are lifting and we expect to see significant increase in the breadth of deal activity in the next year, said Sridharan Nair, financial services partner at PwC Malaysia.

The report said the number of financial services deals announced in Asia-Pacific decreased by 12% in 2009 from the year before to 499 mostly in banking and insurance from 567 in 2008. The total deal value fell by 13% to $70 billion, with deals concentrated in Japan, Australia, China and Taiwan.

Most of the transactions last year involved the sale of Asian-based assets by US and European firms, it said. Citigroup and Bank of America sold more than $7 billion of their Asian banking operations while American International Group, Dutch bank ING and the Royal Bank of Scotland each divested $3 billion of businesses in the region.

In contrast, the report said Asias top banks such as Australia and New Zealand Banking Group, Singapores OCBC Bank and DBS Bank, Malaysias Maybank and CIMB Group, as well as Japans Mitsui Sumitomo Insurance Group and Tokio Marine Holdings had taken the opportunity to buy as they race to expand regionally.

As the dust of the crisis settles, we see these institution gaining strength to compete against massive playeRs such as HSBC and Standard Chartered Bank, it said.

PwC said it foresaw further financial services liberalisation in Asia to spur mergers and acquisitions.

Soo Hoo Khoon Yean, financial services partner with PwC Malaysia, said countries likely to see the highest number of new playeRs in the sector are China, India, Malaysia and Indonesia.

However, he said opportunities for acquisition may become limited as the economic recovery strengthens further, with more willing buyeRs than selleRs in the industry. A gap in price expectations between buyeRs and selleRs may also hinder deals, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions