South Korea’s manufacturing sector records lowest output in 9 years
South Korea’s manufacturing sector reported a 3.8 percent month-on-month drop in output for February, 2020 – it’s sharpest dip since the 2008 recession, according to a report published by Yonhap News.
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Hindustan Unilever snaps up Glenmark’s VWash brand
Glenmark Pharmaceuticals has announced that it has entered into an agreement to sell its VWash brand to Hindustan Unilever. Under the terms of the deal, HUL will pay an upfront sum as well as deferred consideration based on sales for three years, although the exact sum was not disclosed.
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Well-being firm Tycoon proves agility with COVID-19-inspired deals
Hong Kong-based Tycoon is said to be gearing up for an IPO and has signed a Joint Venture with CR Pharm to tap the vast and growing PRC health care and hygiene products market.
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Airport Authority Hong Kong announces HK$1 billion relief package
Airport Authority Hong Kong (AA) has announced a HK$1 billion relief package to help its partners as passenger numbers plummet in the wake of the coronavirus outbreak, according to a press release issued by the same.
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Shanghai Yuemu Cosmetics weighs up potential sale
Chinese beauty mask maker Shanghai Yuemu Cosmetics is said to be weighing up options following the failure of a previous deal, with a potential sale said to be on the cards, according to a report by Bloomberg.
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Shiseido plans new Chinese research facility
Shiseido has announced plans to establish a new research branch of its China Innovation Center in the Oriental Beauty Valley, an industrial park for the health and beauty industries based near Shanghai.
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Li & Fung to go private in US$930 million deal
Li & Fung is set to be taken private in a deal worth some US$930 million, according to a report published by Bloomberg.
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Malaysia: we won’t shut down our palm plantations
Malaysia has told its palm plantations that they are exempt from country-wide measures designed to curb the spread of coronavirus, according to a report published by Reuters.
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JD announces US$2 billion share repurchase program
JD.com has announced that its board of directors has authorized a share repurchase program, under which the company may repurchase US$2 billion of its shares over the next two years.
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Lotte closes Gimpo airport store as traffic plummets
Lotte Duty Free has closed a store located in Gimpo International Airport, according to a report published by The Korea Herald, and reduced opening hours for stores in the city centre.
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