Fintech companies in Asia Pacific attracted USD11.6 billion across 565 deals from venture capital, private equity and M&A in 2020, compared to USD 16.8 billion in 2019, reaching a six-year low, as the pandemic saw a decline in investment into emerging markets like Southeast Asia, particularly in the second half of the year. Global fintech funding was USD105 billion in 2020, the third highest fintech investment on record despite a significant drop compared to USD165 billion in 2019, according to KPMG’s Pulse of Fintech H2′20 report. Read more… Full report available here…
Member Updates
Featured article by PBEC Member : Joanna Caen PraxisIFM Managing Director Hong Kong Email: Joanna.caen@praxisIFM.com At first glance it may seem strange that many high net worth, and even more ultra-high net worth, individuals and families choose to own their personal wealth through asset holding structures. After all, wouldn’t it be simpler to own the assets directly, retaining direct legal and administrative control? In this article, Joanna Caen, Managing Director and Novia Lu, Senior Business Development Manager of PraxisIFM (Hong…
While most of Asia’s wealth managers are eyeing the new economy sector, some market-leading Chinese companies in traditional industries that have accumulated substantial wealth offshore but still lack financial services due to their size and market cap can provide these managers with great opportunities. “We are in a very strange world where there are very good companies with market capitalization of between HK$3 billion and HK$6 billion, which are not large enough to attract the big investment banks to provide…
Sands China Ltd has announced a discretionary allowance for more than 26,000 eligible full-time team members, completing the set of all six Macau concessionaires to have confirmed employee bonuses. The discretionary allowance, to be paid on 8 February, will be equivalent to one month’s salary capped at MOP$45,000 which the company says is in gratitude of team members’ dedication and contributions in 2020. The discretionary allowance will benefit 99% of Sands China employees, it added. “First of all, our special…
THE ABOITIZ group has committed to donate additional vaccine doses for the second wave of the tripartite initiative among the private sector, the government and UK-based AstraZeneca plc, it said on Tuesday. The program dubbed “A Dose of Hope” aims to bring in 3 million more vaccine doses on top of the 2.6 million doses that were pledged in November. The initiative aims to inoculate as much as 70 million Filipinos in 2021. The Aboitiz group joined more than 300…
PBEC Board of Director and Corporate Member KPMG unveils its “Global Impact” Plan at virtual World Economic Forum – Davos 2021. Message from Bill Thomas Global Chairman and CEO KPMG International. “As a firm, we’re driven by our Purpose — to inspire confidence and empower change. And after a year like 2020, our purpose has never been so important. The world faces existential challenges; confidence is shaken and change is needed. A global pandemic. Protests against racial injustice. Rising unemployment…
The developer has appointed Timea Nacsa as assistant development manager, Adam Barbour as completions coordinator and Stephen Clayton as sales manager, as it progresses the £1bn Northern Gateway and other schemes. Far East Consortium is mapping out the first phase of the masterplan to deliver up to 15,000 new homes across north Manchester over the next 10 to 15 years, in joint venture with the city council. In the meantime, it is constructing homes at its other Manchester schemes, the £150m…
We welcome our newest Corporate Member Dato Vijay Eswaran, Founder & Executive Chairman of QI Group based in Hong Kong and Malaysia. Vijay Eswaran is a prominent Malaysian entrepreneur, speaker, philanthropist and author. He is the founder and Executive Chairman of the QI Group of Companies, a multinational conglomerate with interests in direct selling, retail, financial services, real estate, hospitality, and education. The QI Group is headquartered in Hong Kong and Kuala Lumpur with operations in more than 30 countries….
As CEO of Aviation Partners Captain Mark Burby is a seasoned creator of disrupter model businesses. He started adult life as a Royal Marine Commando operating in one of the most elite Special Forces military units. Upon completing specialist military service, he was recruited into banking and corporate finance; quickly absorbing the skills of business by learning from the front line of business financing. Mark was responsible for assisting leisure, and real estate businesses structure their business models to obtain…
A NEW team heading one of Guernsey’s biggest financial services companies is helping turn around a financial loss – after ‘shortcomings’ in its acquisition strategy and organisational structure. PraxisIFM chairman Andrew Haining noted how the senior management team, led by Rob Fearis – in place since early 2020 – had quickly drawn lessons from the previous three years and implemented a ‘considerable number of changes’. The measures should see a significant improvement in profit and cash conversion during 2020 and…