Merger scene lively in Asia

Merger scene lively in Asia

SINGAPORE: Mergers and acquisitions in Asia are forecast to
enjoy a bumper year on strong Western interest in the region and
an abundance of capital, an investment bank said in a report
published on Thursday.

Merger and acquisition activity in the first five months hit a
record high of US$179 billion in deal volumes, up 69 percent from
the same period last year, according to JPMorgan data published
in The Straits Times.

The bank also expects record-high deal volumes for the region
for the year, Todd Marin, JPMorgan Asia's head of merger and
acquisitions, said in a conference call from Hong Kong.

"We anticipate that the market will remain strong in the
foreseeable future," he was quoted as saying.

Western companies continued to show a keen interest in Asia as
they look for new ways to increase revenue, Marin said.-- DPA