Caproasia

Alibaba ($200 billion market value) shareholders have approved the plan to change Hong Kong secondary listing to a primary listing on 28th August 2024.  With the primary listing, Alibaba share is pending approval from China & Hong Kong authorities to be included in the Stock Connect program, which will allow qualified China Mainland investors to buy Alibaba shares.  Read - https://lnkd.in/g_gghWWY follow Caproasia | Driving the future of Asia Alibaba ($200 billion market value) shareholders have approved the plan to change Hong Kong secondary listing to a primary listing on 28th August 2024.  With the primary listing, Alibaba share is pending approval from China & Hong Kong authorities to be included in the Stock Connect program, which will allow qualified China Mainland investors to buy Alibaba shares. In 2024 May, Alibaba is issuing a $4.5 billion 7-year convertible bonds due 2031 with 0.5% coupon & conversion premium of 30% to share price, with the $4.5 billion raised to fund future buybacks of Alibaba American Depositary Shares.  In 2024 March, Alibaba logistic & delivery business Cainiao Smart Logistics Network has cancelled the IPO (filed for IPO on Hong Kong Exchange in 2023 September), and is planning to buy the remaining 36% shareholdings held by investors & employees for $3.75 billion.  In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures).  In February 2024, Alibaba Group has announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly.  Alibaba Group current market value is around $180 billion (9/2/24).  Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4.  In late March 2024, Alibaba Group sold $357 million shares of China video streaming platform Bilibili with current market value at $4.5 billion (22/3/24).  Bilibili share price has decreased -5.8% YTD, -54% in last 12 months and -42% in last 5 years.

The Ritz-Carlton Yacht Collection has expanded to APAC with the 3rd superyacht Luminara offering 10 new journeys for 6 months between 2025 December to 2026 May, exploring 28 ports in 10 countries including to Japan, Hong Kong, Singapore, Malaysia, Thailand, Vietnam & Philippines.  Read - https://lnkd.in/gTc6y6ej follow Caproasia | Driving the future of Asia The Ritz-Carlton Yacht Collection has expanded to APAC with the 3rd superyacht Luminara offering 10 new journeys for 6 months between 2025 December to 2026 May, exploring 28 ports in 10 countries including to Japan, Hong Kong, Singapore, Malaysia, Thailand, Vietnam & Philippines.   Ritz-Carlton Yacht Collection – The Ritz-Carlton Yacht Collection is dedicated to inspiring guests by creating experiences that fuel curiosity and foster genuine connections. The 10 enchanting journeys, ranging from 10 to 15 nights in length and departing from either Tokyo, Hong Kong, or Singapore, provide guests with the opportunity to discover the ancient treasures, modern marvels, and the exotic, off-the-beaten-path locations the region has to offer. Itineraries will include stops in coveted ports such as Hạ Long Bay, Vietnam; Puerto Princesa, Philippines, and access to lively city centers such as Seoul, South Korea; Osaka, Japan; Bangkok, Thailand, and more.  Opportunities for enrichment are endless when journeying with The Ritz-Carlton Yacht Collection. Guests are invited to choose from Select Group Excursions, Pre-Designed Private Excursions, or Custom Private Excursions. Whether kiteboarding in the Philippines, exploring the iconic street food in Thailand, white water rafting in Malaysia, or discovering museums in Vietnam, guests are encouraged to tailor their journey, diving into their personal passions from the leisurely to the more adventurous.  The debut of The Ritz-Carlton Yacht Collection marked the first time a luxury hospitality company expanded into the cruising category. Since its debut with Evrima in October 2022, The Ritz-Carlton Yacht Collection has welcomed travelers to embark on extraordinary journeys of discovery. With the upcoming launch of Ilma, the collection’s second luxury superyacht, slated for this September 2024, and the debut of Luminara, the third luxury superyacht, slated to set sail in July 2025, The Ritz-Carlton Yacht Collection continues to redefine the category, delivering unforgettable explorations at sea.  Luminara will offer 226 spacious suites, accommodating up to 452 guests. The onboard experience will feature world-class dining, an extensive wine collection, a signature Ritz-Carlton Spa, and an expanded dynamic marina providing direct access to the sea.

Eastspring Investments with $239 billion AUM hires BNY Mellon Investment Managemen Dominic Wong as Regional Head of Intermediary Sales.  32 years of financial & asset management industry experience including at Citi, HSBC Asset Management, Fidelity International & BNY Mellon Investment Management and held senior roles including as Head of Intermediary Asia ex-Japan, Head of Intermediary Business for Northeast Asia & Head of Retail Sales Hong Kong.  Read - https://lnkd.in/gc-7b7fg follow Caproasia | Driving the future of Asia Eastspring Investments with $239 billion AUM (Assets under Management) has hiredBNY Mellon Investment Managemen Dominic Wong as Regional Head of Intermediary Sales.  Dominic Wong has 32 years of financial & asset management industry experience including at Citi, HSBC Asset Management, Fidelity International & BNY Mellon Investment Management and held senior roles including as Head of Intermediary Asia ex-Japan, Head of Intermediary Business for Northeast Asia & Head of Retail Sales Hong Kong.  Based in Hong Kong, Dominic Wong reports to Salman Haider (Eastspring Investments Chief Distribution Officer).  In 2024 February, Eastspring Investments hired HSBC Asset Management Vis Nayar as Chief Investment Officer (3rd June 2024).  In February 2024, Eastspring Investments also hired Habib Bank Dubai Wealth Management CEO Salman Haider as Chief Distribution Officer (18/3/24).  Eastspring Investments is the asset management business of insurance group Prudential.  Salman Haider, Chief Distribution Officer, Eastspring Investments: “Accelerating the growth of our intermediary business is a key priority for Eastspring. Dominic’s extensive experience and deep relationships with intermediaries and wealth managers will be critical as we drive our efforts across our distribution teams to position Eastspring as a solutions partner of choice for the intermediary channels in Asia.” Eastspring Investments Citi, HSBC, Fidelity International, BNY, BNY Investments

Billionaire family owner of 7-Eleven store chain parent Seven & i Holdings is the Masatoshi Ito family with 8.1% shareholding valued at $2.5 billion (19/8/24: $31 billion).  In 2023, Masatoshi Ito died at age 98.  His son Junro Ito is Executive Vice-President of Seven & i Holdings.  On 19th August 2024, Alimentation Couche-Tard had sent a friendly proposal (19/8/24) to buy 7-Eleven store chain $31 billion parent Seven & i Holdings.  Couche-Tard billionaire founders Alain Bouchard fortune at $7.7 billion, and Jacques D’Amours fortune at $3.7 billion.  Read - https://lnkd.in/gDCjfxyQ follow Caproasia | Driving the future Billionaire family owner of 7-Eleven store chain parent Seven & i Holdings is the Masatoshi Ito family with 8.1% shareholding valued at $2.5 billion (19/8/24: $31 billion).  In 2023, Masatoshi Ito died at age 98.  His son Junro Ito is Executive Vice-President of Seven & i Holdings.  On 19th August 2024, Alimentation Couche-Tard had sent a friendly proposal (19/8/24) to buy 7-Eleven store chain $31 billion parent Seven & i Holdings.  Couche-Tard billionaire founders Alain Bouchard fortune at $7.7 billion, and Jacques D’Amours fortune at $3.7 billion.  Canada convenience store giant Alimentation Couche-Tard ($56 billion market value) requires Japan government regulatory approval to buy 7-Eleven store chain $31 billion parent Seven & i Holdings.   Alimentation Couche-Tard (19/8/24): “Alimentation Couche-Tard Inc. (“Couche-Tard” or the “Corporation”) (TSX: ATD), a global leader in convenience and mobility, today confirms that it recently submitted a friendly, non-binding proposal to Seven & i Holdings Co., Ltd., (“Seven & i”). The Company is focused on reaching a mutually agreeable transaction that benefits both companies’ customers, employees, franchisees and shareholders. There can be no certainty at this stage that any agreement or transaction will be reached. The Company does not anticipate issuing any further public statements regarding discussions with Seven & i unless or until an agreement is reached.”  Seven & i Holdings (19/8/24): “Seven & i Holdings Co., Ltd (“the Company”) today made the following comment in response to media reports stating it has received an acquisition proposal by Alimentation Couche-Tard Inc. (“ACT”).  The Company confirmed that it has received a confidential, non-binding and preliminary proposal by ACT to acquire all outstanding shares of the Company ...

Canada convenience store giant Alimentation Couche-Tard ($56 billion market value) requires Japan government regulatory approval to buy 7-Eleven store chain $31 billion parent Seven & i Holdings.  On 19th August 2024, Alimentation Couche-Tard had sent a friendly proposal (19/8/24) to buy 7-Eleven store chain $31 billion parent Seven & i Holdings. Read - https://lnkd.in/gba9ipVD follow Caproasia | Driving the future Canada convenience store giant Alimentation Couche-Tard ($56 billion market value) requires Japan government regulatory approval to buy 7-Eleven store chain $31 billion parent Seven & i Holdings.  On 19th August 2024, Alimentation Couche-Tard had sent a friendly proposal (19/8/24) to buy 7-Eleven store chain $31 billion parent Seven & i Holdings.  Alimentation Couche-Tard (19/8/24): “Alimentation Couche-Tard Inc. (“Couche-Tard” or the “Corporation”) (TSX: ATD), a global leader in convenience and mobility, today confirms that it recently submitted a friendly, non-binding proposal to Seven & i Holdings Co., Ltd., (“Seven & i”). The Company is focused on reaching a mutually agreeable transaction that benefits both companies’ customers, employees, franchisees and shareholders. There can be no certainty at this stage that any agreement or transaction will be reached. The Company does not anticipate issuing any further public statements regarding discussions with Seven & i unless or until an agreement is reached.”  Seven & i Holdings (19/8/24): “Seven & i Holdings Co., Ltd (“the Company”) today made the following comment in response to media reports stating it has received an acquisition proposal by Alimentation Couche-Tard Inc. (“ACT”).  The Company confirmed that it has received a confidential, non-binding and preliminary proposal by ACT to acquire all outstanding shares of the Company. The Board of Directors of the Company has formed a Special Committee of the Board of Directors, comprised solely of independent outside directors, led by Stephen Hayes Dacus, as Chairperson of the Board of Directors, to review the proposal. Consistent with its obligation to act in the best interest of its shareholders and other stakeholders of the Company, the Special Committee intends to conduct a prompt, careful and comprehensive review of the proposal, the Company’s stand-alone plans and other alternatives for enhancing corporate value, after which a response will be made to ACT.  Neither the Board of Directors nor the Special Committee has made any determination at this time to either accept or reject the proposal from ACT, to enter into discussions with ACT or to pursue any alternative transaction.  The Company will promptly announce when the Company decides or has matters to be disclosed.”

The Hong Kong Securities & Futures Commission (SFC) the Independent Commission Against Corruption (ICAC) and the Macao Judiciary Police have executed a joint operation on 19th & 20th August 2024 for suspected $15 million cross-boundary fraud, false accounting & misconduct involving senior executives of a Hong Kong-listed company.  6 premises were searched with 7 individuals arrested, including a listed company Chairman & an Executive Director.  Read - https://lnkd.in/geYtPUkb follow Caproasia | Driving the future The Hong Kong Securities & Futures Commission (SFC) the Independent Commission Against Corruption (ICAC) and the Macao Judiciary Police have executed a joint operation on 19th & 20th August 2024 for suspected $15 million cross-boundary fraud, false accounting & misconduct involving senior executives of a Hong Kong-listed company.  6 premises were searched with 7 individuals arrested, including a listed company Chairman & an Executive Director.  Hong Kong SFC (21/8/24): “The Securities and Futures Commission (SFC), the Independent Commission Against Corruption (ICAC) and the Macao Judiciary Police jointly mounted an operation codenamed “Demarcation” on 19 and 20 August 2024 in relation to suspected cross-boundary fraud and misconduct. Senior executives of a listed company in Hong Kong were allegedly involved in fictitious transactions and false accounting totalling around HK$120 million.  Six premises were jointly searched by the SFC and the ICAC. During the joint operation, the ICAC also arrested seven persons, including the chairman and an executive director of the listed company.  The arrestees had allegedly committed the offence of agent using documents with intent to deceive his principal under the Prevention of Bribery Ordinance. The investigation revealed that the chairman of the listed company and other individuals had allegedly falsified business documents and accounting records of the company’s subsidiaries in Hong Kong and Macao, while the company’s trade receivables totalling over MOP113 million (about HK$110 million) were reduced. Meanwhile, the individuals concerned had also allegedly used false documents and accounting records to conceal the misappropriation of the company’s funds over HK$9 million. The above conduct may have resulted in the commission of offences or misconduct by the listed company and/or its management which contravene certain provisions under the Securities and Futures Ordinance for disclosing false or misleading information, as well as for defalcation, fraud, misfeasance, or other misconduct in relation to the conduct of the business or affairs of the listed company. 

The Hong Kong Securities & Futures Commission (SFC) have issued a public warning of a suspicious link to ICE Global Professional Station mobile appappearing to impersonate $91 billion (market value) exchange giant Intercontinental Exchange, using similar name & logo and claiming to be a digital asset trading platform.  Investor has reported difficultly in withdrawing funds after investing in cryptocurrency products on ICE Global Professional Station. Read - https://lnkd.in/gdGwMqPz follow Caproasia | Driving the future The Hong Kong Securities & Futures Commission (SFC) have issued a public warning of a suspicious link to ICE Global Professional Station mobile app appearing to impersonate $91 billion (market value) exchange giant Intercontinental Exchange, using similar name & logo and claiming to be a digital asset trading platform.  Investor has reported difficultly in withdrawing funds after investing in cryptocurrency products on ICE Global Professional Station.  Hong Kong SFC (21/8/24): “The Securities and Futures Commission (SFC) today warns the public of a suspicious access link through which investors can gain access to a mobile application of “ICE Global Professional Station”. ICE Global Professional Station, which claims to be a digital asset trading platform, appears to impersonate Intercontinental Exchange, Inc., a multinational financial services corporation, by using a similar name and logo.  ICE Global Professional Station is suspected to be involved in virtual asset-related fraud with an investor reporting difficulty in withdrawing funds after making deposits for investments in cryptocurrency products.  The access link to the mobile application of ICE Global Professional Station was posted on the SFC’s Suspicious Virtual Asset Trading Platforms Alert List on 21 August 2024.  Online investment scams may involve any types of asset and are perpetrated through multiple channels, and investors may suffer substantial losses. Investors should stay vigilant and beware of fraud when making investment decisions.”

Taiwan largest financial group Cathay Financial Holding (Cathay FHC) is increasing hiring in Singapore from 100 employees based in Singapore in 2022 to around 200 employees by 2025, including hiring more corporate relationship managers & private bankers. Read - https://lnkd.in/gKz_siZU follow Caproasia | Driving the future Taiwan largest financial group Cathay Financial Holding (Cathay FHC) is increasing hiring in Singapore from 100 employees based in Singapore in 2022 to around 200 employees by 2025, including hiring more corporate relationship managers & private bankers.  Cathay Financial Holding clients are shifting & expanding into Southeast Asia due to supply-chain diversification.  Ex-HSBC veteran Winfield Wong is Cathay United Bank CEO of Singapore.  Cathay Financial Holding includes Cathay United Bank, Cathay Life, Cathay Century Insurance, Cathay Securities & Cathay Securities Investment Trust.  Cathay Financial Holding current market value is around $29 billion (19/6/24).  Cathay Financial Holding Chairman is Tsai Hong-tu (son of Tsai Wan-lin), and cousin of (Taiwan) Fubon Financial Holding Chairman Daniel Tsai. Tsai Wan-lin (1924 to 2004) was Taiwan richest man, is co-founder of Cathay Life, and founder of Lin Yan Group which owns Cathay Financial Holding. Cathay FHC is the largest financial group in Taiwan, with total assets of over US$400 billion. The group includes leading players in life insurance, banking, property and casualty insurance, asset management, securities, and venture capital. With a presence in 12 markets in Asia, Cathay FHC is dedicated to becoming a leading financial institution in the region. Cathay Financial Holdings Co., Ltd. Cathay United Bank

Hong Kong University of Science & Technology (HKUST) has launched the Institute for Financial Research with 4 research focus areas in 1) Technological Innovations, 2) Environmental & Social Responsibility, 3) Wealth Management, And 4) Macro-Finance & Geo-Economics.  Read - https://lnkd.in/geYE-kSG follow Caproasia | Driving the future The Hong Kong University of Science & Technology (HKUST) has launched the Institute for Financial Research with 4 research focus areas in 1) Technological Innovations, 2) Environmental & Social Responsibility, 3) Wealth Management, And 4) Macro-Finance & Geo-Economics.   HKUST (22/8/24): “The Hong Kong University of Science and Technology (HKUST) today announced the establishment of the HKUST Institute for Financial Research (the Institute), with a mission to address the multi-faceted social and economic issues through financial research and technological innovation, in collaboration with the academia, industry practitioners and policymakers in Hong Kong and beyond. Pioneering innovative exploration of knowledge, the Institute consists of four research focus areas undertaken by its four interdisciplinary research centers: (1) Center for Technological Innovations; (2) Center for Environmental and Social Responsibility; (3) Center for Wealth Management; and (4) Center for Macro-finance and Geo-economics. Supported by an Advisory Board of nearly 20 prominent experts worldwide and leveraging interdisciplinary knowledge and resources, the Institute serves as an international platform to promote practical research that tackles imminent issues, foster cooperation across different stakeholders, and provide valuable insights to industry practitioners and policymakers for better decision-making ... ... The Hong Kong University of Science and Technology

People’s Bank of China RMB Bills tender results on 21st August 2024 – $4.1 billion 3-month RMB bills average coupon at 1.75%, $2 billion 1-year RMB bills average coupon at 1.85%. Read - https://lnkd.in/gskBkF3W follow Caproasia | Driving the future People’s Bank of China RMB Bills tender results on 21st August 2024 – $4.1 billion 3-month RMB bills average coupon at 1.75%, $2 billion 1-year RMB bills average coupon at 1.85%.