Singapore Inc. is stirring, with companies from real estate to engineering becoming bolder in their hunt for acquisitions abroad.
Companies in the city-state announced around $91 billion of overseas deals this year through September, more than double the $41.9 billion of transactions for the same period of 2017, data compiled by Bloomberg show. Temasek Holdings Pte and GIC Pte still loom large, but increasingly others are inking their biggest-ever transactions to put Singapore on the world stage.
Singapore firms’ offshore acquisitions could reach a record in 2018
The flurry of activity shows a new determination by firms to adopt a more aggressive stance amid an escalating trade war between China — one of Singapore’s closest neighbors — and the U.S. An economy that’s forecast to expand next year at the slowest pace since 2016 is also putting pressure on companies to look further afield for growth.
Source From: https://www.bloomberg.com