Signage for New Oriental Education & Technology Group. Photographer: Nelson Ching/Bloomberg 2012 Bloomberg Finance L.P. Shares in Chinese education companies that tutor students on school curriculum plunged today on reports that the government may ask them to convert to non-profits, highlighting anew risks facing investors in the country’s stocks. Rules being mulled would likely no… More
A Crown Resorts logo at the entrance to the Crown Melbourne casino and entertainment complex in … [+] Melbourne, Australia, on Wednesday, March 24, 2021. Carla Gottgens/Bloomberg Star Entertainment Group said Friday it pulled its proposed merger with Crown Resorts—controlled by billionaire James Packer—amid allegations of tax evasion and lax money laundering controls at Crown’s… More
Sunseap’s offshore floating photovoltaic (OFPV) system in Singapore. Courtesy of Suneap AC Energy—controlled by Philippine billionaire Jaime Zobel de Ayala’s Ayala Corp.—and Singapore-based Sunseap Group are investing over $2.4 billion in separate renewable energy projects across Southeast Asia as countries around the region accelerate their transition into a carbon-free future. Sunseap—backed by Thai billionaire Isara… More
Hui Ka Yan speaks during a news conference on the sidelines of the fourth session of the 12th National People’s Congress on March 6, 2016 in Beijing, China. Etienne Oliveau/Getty Images Chinese real estate tycoon Hui Ka Yan is rapidly slipping down the wealth rankings. He net worth dropped another $3.35 billion this week, as… More
Gautam Adani delivers a public address on February 21, 2018 in Lucknow, India. Subhankar Chakraborty/Hindustan Times via Getty Images Billionaire Gautam Adani’s Adani Airport Holdings Ltd. (AAHL) took control this week of Mumbai’s Chhatrapati Shivaji Maharaj International Airport, the second busiest airport in the country, after completing all formalities and obtaining necessary approvals. AAHL had… More
Didi’s headquarters in Xisanqi, Haidian District, Beijing, China, in August 2020. Costfoto/Barcroft Media via Getty Images Beijing is ramping up its scrutiny of ride-sharing giant Didi Global, announcing on Friday that seven government departments have jointly launched an on-site cybersecurity investigation into the company. The Cyberspace Administration of China (CAC) said in a brief notice… More
Xiaomi is now the world’s No. 2 smartphone vendor. Xiaomi Beijing-headquartered Xiaomi surpassed Apple to become the world’s No. 2 smartphone supplier in the second quarter of the year, research firm Canalys said today. Xiaomi’s shipments rose by 83% from a year earlier, giving it a 17% global market share, according to Canalys figures. “Xiaomi… More
Liang Changlin, founder of Chinese online grocery platform Dingdong. Dingdong Liang Changlin, the founder of Chinese online grocery platform Dingdong, has joined the ranks of the world’s billionaires after the American depositary shares of his company surged 39% in the days after its debut on the NYSE. At their current price of $32.57, Liang has… More
Topline In what could potentially be another strong show of Latin American cryptocurrency adoption, billionaire businessman Ricardo Salinas Pliego, a staunch bitcoin bull heading up one of Mexico’s largest conglomerates, launched into a tweetstorm in support of the world’s largest cryptocurrency early Sunday morning and said he is working to make his Banco Azteca the… More
Richard Li attends the Milken Institute Global Conference in Los Angeles, California. Jonathan Alcorn/Bloomberg FWD, the Asian insurer backed by Hong Kong billionaire Richard Li, has filed confidentially for an initial public offering in the U.S. PCGI Intermediate, which is FWD’s holding company, said on Thursday that it has submitted a draft registration statement to… More
Lee Oi Hian is the chief executive officer of Kuala Lumpur Kepong Bhd. Goh Seng Chong/Bloomberg Malaysian palm oil giant Kuala Lumpur Kepong Bhd, controlled by billionaire brothers Lee Oi Hian and Hau Hian, on Wednesday announced that it has offered to buy IJM Corp.’s entire 56.2% stake in IJM Plantations for 1.53 billion ringgit… More
Shipping containers are stacked at Port Tanjung Pelepas (PTP), in Johor Baru, Malaysia, on … [+] Wednesday, April 9, 2008. Goh Seng Chong/Bloomberg News Billionaire Syed Mokhtar AlBukhary is offering 2.9 billion ringgit ($714 million) to buy out the minority shareholders of MMC Corp., betting that the ports and energy conglomerate will sustain its earnings… More
Bill Ackman’s SPAC is in talks to take Universal Music Group public at a $40 billion valuation. © 2017 Bloomberg Finance LP Universal Music, the largest publisher of music in the world, may be listed on public stock markets through a massive deal with billionaire investor Bill Ackman’s special purpose acquisition company, Pershing Square Tontine… More
Chu Jenn Weng (left) and Steven Siaw Kok Tong. Courtesy of ViTrox This story is part of Forbes’ coverage of Malaysia’s Richest 2021. See the full list here. Penang-based ViTrox makes machine vision inspection systems that can scan for defects in semiconductors and other high-tech gear. “ViTrox is experiencing robust demand from various sectors, especially in… More
Tan Eng Kee, cofounder and CEO of Greatech Technology. Courtesy of Greatech Technology This story is part of Forbes’ coverage of Malaysia’s Richest 2021. See the full list here. Tan Eng Kee, cofounder and CEO of Greatech Technology, joins the list with a net worth of $965 million, thanks to firm’s rising share price. The Malaysian… More
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