Pushing up the figure to a new record was Charoen Pokphand Group’s $9.4 billion purchase of the 15.57 per cent stake in China’s Ping An Insurance Group of China. The deal with HSBC Holdings was announced on Dec 5.
According to data compiled by Bloomberg, the $25 billion is more than the combined purchases in the previous 12 years.
It noted that Thailand’s overseas investment is now behind only Japan and China in the Asia-Pacific region.With billionaire Charoen Sirivadhanabhakdi attempting a $11.4 billion takeover of Singapore’s Fraser & Neave, Thai acquirers are now involved in two of the four largest cross- border deals by Asian companies this year.
The overseas investment is deemed as a factor to help lessen the baht appreciation, in light of capital inflows from developed economies to emerging markets. Without outflows, the baht could have strengthened more. According to the Bank of Thailand’s data, the Thai baht is today 30.68 per US dollar.
via Thai overseas investment highest in Southeast Asia – The Nation.
