Credit Suisse Group has hired Steven Kwok and Sokho Jung as managing directors of private equity in Greater China and South Korea respectively, the company said in a press release yesterday, without disclosing when Kwok and Jung will start their new roles.
Kwok used to work as the senior managing director of Bear Stearns private equity and Jung was formerly head of South Korea at Standard Chartered’s private equity business.
Based in Hong Kong, both will report to Harjit Bhatia, head of Credit Suisse private equity Asia, the group’s release said.
Prior to Bear Stearns, Kwok was a managing director at Orchid Asia, a Chinese private equity fund focusing on minority stake investments. Prior to that, Kwok was the head of UBS Capital Greater China and focused on growth capital investments.
He also worked at the Carlyle Group in Asia and at Salomon Brothers in New York.
Kwok is a native of China and earned his MBA from the University of Chicago Graduate School of Business.
Jung advised Lone Star Advisors Korea, a unit of Lone Star Funds, on distressed asset investments and has worked for Government of Singapore Investment Corp as a senior investment adviser.
Credit Suisse Private Equity is part of the company’s US$155 billion Alternative Investments arm.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
RSS