CFOs anticipate robust M&A activity in year ahead
February 27, 2012 Category Mergers & Acquisitions, Weekly
Chinese companies are the most confident in Asia when considering the shape of their country’s economy, according to a survey by Bank of America Merrill Lynch. More than half of the Asian Chief Financial Officers (CFOs) interviewed said they expected revenues to grow this year, despite the uncertainties in the U.S. and Europe. On a scale of one to 10, CFOs in China scored 7.5 for confidence in their economy, higher than the average of 5.9 rated for Asia as a whole. The survey was conducted among 465 CFOs of companies generating more than USD500 million in Hong Kong, China, India, Japan, South Korea, Singapore and Australia, in the fourth quarter of last year. In China, 86% of the CFOs considering M&As said they would do so at home, while the rest said they expected to take part in overseas acquisitions. More than 50% of the CFOs in Hong Kong and Singapore said they saw China, rather than their local market, as the top M&A destination. Matthew Koder, head of the bank’s Asia-Pacific global corporate and investment banking, said he was surprised CFOs from China did not express a stronger interest in buying up assets in Europe. Chinese CFOs were the most concerned group about cash flow, domestic competition and corporate taxes in the region.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world