Cracking the value problem in corporate Asia
This value gap stems from a web of interlocking issues, including corporate governance gaps, inefficient capital allocation and unfocused balance sheets with non-core assets that drag returns. In South-east Asia, the 'conglomerate discount' is well-known – Bain calculates that investors discount the value of large conglomerates by about 7 per cent to 43 per cent versus the sum of their parts.
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Straits Times
6 hours ago
- Straits Times
South Korean president to meet Japanese PM in Japan ahead of US visit
Sign up now: Get ST's newsletters delivered to your inbox South Korean President Lee Jae-myung (above) and Japanese Prime Minister Shigeru Ishiba will discuss ways to improve regional peace and boost trilateral cooperation with Washington. SEOUL - South Korean President Lee Jae-myung will visit Japan between Aug 23 and 24 and hold a summit with Japanese Prime Minister Shigeru Ishiba, Mr Lee's office said at a briefing on Aug 13. The leaders will discuss ways to improve regional peace and boost trilateral cooperation with Washington, Mr Kang Yoo-jung, Mr Lee's spokesman, told reporters. Mr Kang did not specify the date of the summit during Mr Lee's two-day visit. Mr Lee has in the past been critical of efforts by administrations in Seoul to improve ties with Tokyo, though when he met Mr Ishiba for their first summit on the sidelines of a G7 meeting in Canada in June they vowed to deepen the relationship. Ties between the US allies have often been strained, rooted in historical disputes stemming from Japan's colonial rule over the Korean peninsula from 1910 to 1945. Their second summit meeting will also take place as the Asian economic powerhouses grapple with the implications of US tariffs imposed by the administration of US President Donald Trump. Mr Lee''s trip to Japan comes just ahead of his visit to the US, where he is scheduled to hold a summit with Mr Trump on Aug 25. REUTERS
Straits Times
7 hours ago
- Straits Times
South Korean President Lee to visit Japan for summit with Ishiba, Seoul says
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: South Korean President Lee Jae Myung delivers a speech during a press conference to mark his first 30 days in office at Yeongbingwan of Blue House on July 3, 2025 in Seoul, South Korea. Kim Min-Hee/Pool via REUTERS/File Photo SEOUL - South Korean President Lee Jae Myung will visit Japan between August 23-24 and hold a summit with Prime Minister Shigeru Ishiba, Lee's office said at a briefing on Wednesday. The leaders will discuss ways to improve regional peace and boost trilateral cooperation with Washington, Kang Yoo-jung, Lee's spokesperson, told reporters. Kang did not specify the date of the summit during Lee's two-day visit. Lee has in the past been critical of efforts by administrations in Seoul to improve ties with Tokyo, though when he met Ishiba for their first summit on the sidelines of a G7 meeting in Canada in June they vowed to deepen the relationship. Ties between the U.S. allies have often been strained, rooted in historical disputes stemming from Japan's colonial rule over the Korean peninsula from 1910-1945. Their second summit meeting will also take place as the Asian economic powerhouses grapple with the implications of U.S. tariffs imposed by the administration of U.S. President Donald Trump. Lee's trip to Japan comes just ahead of his visit to the U.S., where he is scheduled to hold a summit with Trump on August 25. REUTERS
Business Times
13 hours ago
- Business Times
Soup Restaurant to develop AI-driven kitchen solutions with Shanghai e-commerce player
[SINGAPORE] Chinese restaurant chain Soup Holdings announced on Wednesday (Aug 13) that it has signed a memorandum of understanding for a joint venture (JV) with Xi Xiang Technology (XXT) to sell smart kitchen solutions powered by artificial intelligence. It will have a paid-up capital of up to S$2 million, to be requisitioned in tranches, the mainboard-listed company said in a media statement. As part of the JV, Soup Holdings' wholly owned subsidiary Soup Restaurants Investments (SRI) will own 51 per cent while XXT will hold 49 per cent. The two parties will provide smart kitchen solutions and equipment to clients, as well as promote, sell and lease smart kitchen equipment and solutions to kitchens. Soup Holdings said it wants to help Singapore F&B companies manage manpower issues and rising costs. The group will tap the technology of the Shanghai e-commerce and robotics company to help F&B businesses – specifically those catering to schools, enterprises and government agencies – integrate smart technologies into traditional kitchen operations. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The aim of this move, according to Soup Holdings' managing director Wong Chi Keong, is to begin greater mechanisation to the handling and preparation of Asian food, while minimising human contact and improving food hygiene. XXT is based in Singapore and controlled by Shanghai Xixiang Yixiang E-Commerce, which carries out research and development, as well as produces, operates and maintains smart kitchen equipment in China. Wong said that the recent plans for diversification is part of a longer-term roadmap, with Soup Holdings seeing more expansion into food-related businesses than over a decade ago, with its sourcing, procurement and manufacturing business Samsui Supplies and Services seeing continued growth even amid manpower shortages and rising costs. Founded in 1991, Soup Holdings runs a chain of restaurants specialising in herbal soups and home-styled dishes such as its signature 'Samsui' Ginger Chicken. It also operates restaurants under the Teahouse by Soup Restaurant and Cafe O brands in Singapore and Malaysia, as well as a franchised outlet in Indonesia. Shares in Soup Holdings closed flat at S$0.071 on Tuesday.
