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Search resuls for: "Jennifer Hughes"


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☆ CVC’s burial business bets on lively market growth
  + stars: | 2022-09-27 | by ( Jennifer Hughes | ) www.reuters.com   time to read: +4 min
A pitch for a growing business in an under-penetrated market is different though. Growth will have been disrupted by the effect of pandemic lockdowns on the ability of Nirvana’s sales force to canvas for new business. That’s just above the rate cited by FWD for the Malaysian life insurance market and would be a more reasonable level. Bidders have entered a second round for the business, which specialises in selling pre-need premium products such as family plots in burial grounds. Nirvana Asia went public in Hong Kong in 2014.
☆ China property IPO bets on big name to calm fears
  + stars: | 2022-09-22 | by ( Jennifer Hughes | ) www.reuters.com   time to read: +4 min
REUTERS/StringerHONG KONG, Sept 22 (Reuters Breakingviews) - Big names generate deal interest, but that comes with risks, too. At the top of the price range, residential and commercial property manager Onewo will raise about $790 million in what will be Hong Kong’s biggest initial public offering. Two years ago, similar floats were commanding valuations of up to 27 times expected earnings. Those were better times: a Hong Kong index for the sector has dropped 72% since then. Parent Vanke will take some comfort however from other recent listings in Hong Kong.
☆ Bank of Japan needs to pick yen battles carefully
  + stars: | 2022-09-15 | by ( Jennifer Hughes | ) www.reuters.com   time to read: +3 min
Battling the Bank of Japan, however, has historically offered better odds. The People’s Bank of China has been fixing the yuan’s daily range at stronger rates than trading patterns have forecast. Yen weakness has not triggered intervention since the 1998 Asian Financial Crisis. Register now for FREE unlimited access to Reuters.com RegisterIf Japan is serious about reversing or at least slowing currency weakness, it would need to do more than buy yen. CONTEXT NEWSThe Bank of Japan checked currency rates with banks on Sept. 14, Reuters reported.
☆ Richard Li’s IPO delay has some credibility value
  + stars: | 2022-09-14 | by ( ) www.reuters.com   time to read: +2 min
HONG KONG, Sept 14 (Reuters Breakingviews) - By a company’s fourth attempt to float, less hardy bosses might have given up. Not Hong Kong entrepreneur Richard Li, whose Asia-focused insurer FWD has refiled for an initial public offering in its home city some 15 months after it first dropped the Asian hub in favour of a tilt at New York. Plans in March for a Hong Kong offering were shelved amidst weak markets. Now it has updated that filing and says its measure of first-half operating profit has almost doubled since June last year. (By Jennifer Hughes)Follow @Breakingviews on TwitterRegister now for FREE unlimited access to Reuters.com Register(The author is a Reuters Breakingviews columnist.
☆ Caymans gives Hong Kong tycoons a head start
  + stars: | 2022-08-11 | by ( Jennifer Hughes | Thomson Reuters | Jennifer Joined Breakingviews After Three Years As Reuters | ) www.reuters.com   time to read: +4 min
The Hong Kong billionaire is offering $240 million to buy out minority shareholders in Caymans-registered Lifestyle International (1212.HK), his department store chain. Several Hong Kong tycoons have fallen foul of the notorious tests, which the Cayman Islands will scrap at the end of this month. Hong Kong dropped the rule in 2014, but is home to just 8% of the city’s listed companies. Lifestyle is domiciled in the Cayman Islands, which at the end of August will drop a requirement for the so-called headcount test. Almost 60% of primary-listed Hong Kong companies are domiciled in the Caribbean tax haven.
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