Singapore ranks third for in-bound mergers and acquisitions

SE Asia ECM volume surges to highest YTD level since 2008

SE Asia ECM issuance has reached $11.2bn via 112 issues in 2011 YTD, up 21% from the $9.2bn
raised in 2010 YTD and stands as the largest YTD level since 2008 ($12.7bn via 80 deals). Indonesia leads the SE Asia ECM volume in 2011 YTD with a market share of 32.7%, followed by Singapore and the Malaysia with shares of 20.8% and 17.2% respectively.

ECM volume in the Philippines totals $1.9bn in 2011 YTD, more than double the $856m raised in 2010 YTD and stands as the highest YTD level on record. This is fueled by San Miguel’s $600m equity-linked and $350m FO issues, both priced in April this year.

DCM volume reaches a new YTD record

DCM volume in SE Asia totals $44.3bn in this YTD, up 19% from the previous YTD record of $37.1bn achieved in 2010 YTD and marks the eighth consecutive increase since 2003 ($12.7bn). Despite a surge in SE Asia DCM volume, deal activity has dropped to 212 deals in 2011 YTD compared to 252 deals in 2010 YTD.

SE Asia Corporate Investment-grade, FIG and Sovereign bond volumes have all reached their highest YTD records in 2011, with $9bn, $10bn and $12.1bn respectively.

Inbound M&A volume totals $13.1bn in 2011 YTD – more than double the level in 2010 YTD

SE Asia Inbound M&A volume has reached $13.1bn in this YTD, almost triple the $4.7bn raised in the same period last year and stands as the highest YTD level on record. Indonesia continues to lead the region as the most targeted nation in Inbound M&A volume with $4.1bn, followed by Malaysia and Singapore with $3.8bn and $2.1bn respectively.

Malaysian Banking Bhd – Maybank’s $1.4bn bid for Kim Eng Holdings is the largest inbound M&A deal in 2011 so far. This is followed by Mitsui & Co’s $1.1bn acquisition of Integrated Healthcare Holdings.

ECM fees push Core IB revenue to record YTD level

SE Asian ECM fees has reached $243m so far this year, the highest YTD level on record and accounts for 45% of core IB revenue this quarter. M&A and DCM account for 33% and 23% respectively.

Pushes core IB revenue to $546m, up from 26% from the same period last YTD and marks the
highest YTD level on record.