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