Asia emerged tops in global mergers and acquisitions (M&A) in the first quarter of this year with the value of deals announced surging 75 percent from the same period last year, the latest figures showed yesterday.
The jump was faster than in any other region, according to Dealogic's Investment Banking Review.
Globally, M&A deal values grew 7 percent, said the findings published in the Business Times.
Australia, which Dealogic grouped with the Asian countries, led with US$21 billion worth of deals, up 258 percent from the year before. South Korea and China were in second and third place for the region at US$7.6 billion and US$6.1 billion respectively.
Indonesia racked up one of the strongest growth rates, with the value of its announced M&A deals jumping 370 percent to US$5.5 billion. Indonesian companies attracted the largest foreign investment in the region, scoring 17 announced deals worth US$5.4 billion.
Hong Kong and India took fifth and sixth place with US$4.3 billion and US$3.9 billion in announced deals respectively.
Singapore, Malaysia, New Zealand, Taiwan and Thailand were the five countries to see a decline in terms of deal values this year.
Singapore deals were down 41 percent from the first quarter of last year, Malaysia's 9 percent, New Zealand's 36 percent, Taiwan's 68 percent and Thailand, ranked 13th, down 69 percent.
Taking Taiwan as an example, originally Grand Cathay Securities Co (大華證券), run by China Development Financial Holding Corp (中華開發金控), hoped to complete the acquisition of KGI Securities Co (中信證券) and President Securities Corp (統一證券) in late last month. But the deal is now temporarily on hold after one of China Development's board members rejected the merger plan.
In Februrary, the planned merger between the International Bank of Taipei (IBT, 台北國際商業銀行) and SinoPac Financial Holdings Co (建華金控) fell apart after the SinoPac board couldn't reach a consensus over the merger.
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