SINGAPORE - Singapore's mergers and acquisitions activity in 2019 totalled US$35.3 billion in 2019, up 125.6 per cent from a year ago, deal intelligence service Mergermarket said in a report on Friday .
Mergermarket said geopolitical uncertainties reinforced Singapore's status as a"safe haven" for international investors. Singapore, as at end-October, recorded the highest amount of bank deposits since 2016 - from people outside the country - at US$36.3 billion. In October, Temasek proposed the acquisition of a 30.5 per cent stake in Keppel Corporation for US$9.5 billion, making it the third-largest M&A deal in the Asia-Pacific excluding Japan in 2019.
Overall, M&A activity in the Asia-Pacific excluding Japan stood at US$565.3 billion across 3,735 deals in 2019 - the lowest value since 2013 and the smallest deal count since 2014.
Source: News Formal (newsformal.com)
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