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S’pore benefits from rise in M&A deals as Japanese firms look for investments in South-east Asia
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Singapore bagged a large Japanese M&A deal in 2023 when Sumitomo Life paid $1.6 billion for a 35.5 per cent stake in Singlife.
PHOTO: LIANHE ZAOBAO
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SINGAPORE – Japanese firms went on a buying spree in Singapore and the rest of South-east Asia in 2023, with spending hitting levels not seen since 2020.
Market watchers say the deals struck are a direct result of Japanese companies looking overseas for growth as opportunities dwindle in their domestic market.
