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Business Standard
2 hours ago
- Business
- Business Standard
Dixon Technologies' China playbook faces crucial Centre's FDI test
Company signs new pacts with Chinese firms Qtech, Chongqing Yuhai Surajeet Das Gupta New Delhi Listen to This Article Dixon Technologies (India) on Tuesday signed two agreements — a joint venture (JV) and an acquisition, both with Chinese companies — in what could be a test case for the government on how to handle such proposals under foreign direct investment (FDI) rules for Chinese firms following the implementation of Press Note 5. With these two deals, Dixon now has five such tieups with Chinese companies — in each of which it holds a 51 per cent or higher stake — and they can proceed only if the government grants FDI approval. The company has signed a binding term sheet
The Wire
8 hours ago
- Business
- The Wire
Kaustubh Dhavse Appointed Chief Advisor (Investments & Strategy) to Maharashtra CM Devendra Fadnavis
Pune/Mumbai – Kaustubh Dhavse, who previously served as Officer on Special Duty (OSD) to Maharashtra Chief Minister Devendraji Fadnavis, has now been elevated to the key position of Chief Advisor (Investments & Strategy) with immediate effect. The appointment was confirmed via a notification from the General Administration Department (GAD). In this strategic role, Dhavse will spearhead Maharashtra's agenda across four critical domains: 1. Investment promotion and policy design 2. Foreign Direct Investment (FDI) facilitation 3. Coordination of the Infrastructure Projects War Room 4. Implementation of large-scale IT initiatives His tenure as OSD now formally concludes, marking a shift to a more focused, high-impact advisory role at the core of Maharashtra's growth engine. • Strategic Reinforcement for Maharashtra's Future Dhavse's appointment signals the government's sharpened focus on attracting global investments, accelerating infrastructure, and leveraging technology for governance transformation. A trusted member of CM Fadnavis' inner policy circle during his earlier term, Dhavse's return underscores a renewed drive to fast-track reforms, streamlines investment pipelines, and position Maharashtra as a future-ready economy. • Proven Track Record in Strategy & Global Engagement With over two decades of experience in strategy, consulting, and technology, Dhavse has worked with leading multinationals, including Solectron Inc., HP Inc., and Frost & Sullivan. An electronics engineer from Mumbai University, he holds an MBA from SP Jain Institute of Management and Research (valedictorian) and a master's in public policy from Harvard University's John F. Kennedy School of Government. Senior officials noted that Dhavse's expertise will be crucial in aligning Maharashtra's economic vision with global investment trends and ensuring time-bound execution of priority infrastructure and digital projects. 'It is an honor to serve Maharashtra in this new capacity. I look forward to driving strategic investments, fostering global partnerships, and accelerating transformative infrastructure and technology initiatives under the visionary leadership of Hon. Chief Minister Devendra Fadnavis.' — Kaustubh Dhavse, Chief Advisor (Investments & Strategy) to the Chief Minister (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.).
Time of India
9 hours ago
- Business
- Time of India
Kaustubh Dhavse appointed chief advisor to Maharashtra CM Devendra Fadnavis; to lead investment and strategy initiatives
PUNE: In a significant move aimed at bolstering Maharashtra's economic roadmap, Kaustubh Dhavse has been appointed as Chief Advisor (Investments & Strategy) to Chief Minister Devendra Fadnavis with immediate effect. The General Administration Department (GAD) formally announced the appointment, marking Dhavse's transition from his earlier role as Officer on Special Duty (OSD) to this new high-impact advisory position. "It is an honor to serve Maharashtra in this new capacity. I look forward to driving strategic investments and accelerating transformative initiatives under the visionary leadership of Hon. Chief Minister Devendra Fadnavis,' Dhavse said in a statement. In his new role, Dhavse will lead critical areas including investment promotion and policy design, foreign direct investment (FDI) facilitation, coordination of the Infrastructure Projects War Room, and implementation of large-scale IT initiatives. His appointment underscores the state government's renewed focus on accelerating economic reforms and attracting global investments. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Dhavse brings over two decades of rich experience in strategy, consulting, and technology to the table. He has worked with top global organizations such as Solectron Inc., HP Inc., and Frost & Sullivan, providing him with a deep understanding of global business dynamics. An electronics engineer from Mumbai University, Dhavse further strengthened his academic profile with an MBA from SP Jain Institute of Management and Research, where he was the valedictorian, and a master's degree in public policy from Harvard University's prestigious John F. Kennedy School of Government. During CM Fadnavis's previous term, Dhavse played a crucial role as a trusted policy advisor, helping shape strategic initiatives and streamline policy execution. His proven expertise is expected to help position Maharashtra as a future-ready, globally competitive economy.
Bloomberg
13 hours ago
- Business
- Bloomberg
Kenya Touts Its Economic Climate to Double Foreign Investment
The Kenyan Investment Authority plans a conference in 2026 to highlight the East African nation's favorable macroeconomic climate and help boost foreign direct investment. 'We believe next year we can double our annual FDI numbers, going by the current run-rate,' Chief Executive Officer John Mwendwa said in an interview last week, pointing to agriculture, manufacturing and business processes outsourcing as sectors it would prioritize.
New Straits Times
13 hours ago
- Business
- New Straits Times
Lower rates, Iskandar 2.0, TODs to spur property rebound, says UOB Kay Hian
KUALA LUMPUR: Falling interest rates, steady mass-market housing demand and renewed investor interest in Iskandar 2.0 and key transit-oriented developments (TODs) are set to drive Malaysia's property market recovery in the second half of 2025 (2H25). In a recent note, UOB Kay Hian outlined three key drivers supporting its positive sector outlook. The drivers are the Iskandar 2.0 theme – buoyed by foreign direct investment (FDI) into industrial assets and fresh residential demand near the Rapid Transit System (RTS) Link; resilient mass-market housing demand, bolstered by the recent Overnight Policy Rate (OPR) cut and structural tailwinds such as minimum wage hikes; and a gradual recovery in investment appetite for TODs, aided by improved affordability and an updated Malaysia My Second Home (MM2H) programme. Reflecting the more accommodative rate environment, the broking has trimmed its sector RNAV discount by 3–5 per cent, raising its target prices for covered developers by 2–10 per cent. It maintains an OVERWEIGHT stance on the sector, with Sunway Bhd, Eco World Development Group Bhd, and Mah Sing Group Bhd as top picks. UOB Kay Hian noted that Bank Negara Malaysia's recent 25 basis point OPR cut should lower borrowing costs for developers and stimulate property demand, particularly among first-time buyers and upgraders. It estimates the lower rates could lift 2026 earnings by over 2 per cent for SP Setia, around 1 per cent for Sunway, and about 0.5 per cent for Eco World, based on their floating-rate debt exposure. For homebuyers, reduced mortgage rates could lower monthly repayments by about 3.4 per cent for a typical RM500,000 loan over 35 years. The research house expects Iskandar Malaysia to benefit from multiple upcoming catalysts, including the final plan for the elevated automatic rapid transit (e-ART) system, the launch of the Gemas-Johor Bahru electric train service (ETS) in August, and the anticipated Johor-Singapore Special Economic Zone (JS-SEZ) blueprint by year-end. "We expect the spotlight to return to Iskandar 2.0 after market recalibration. We are cautiously optimistic on data centre land demand following a reallocation of resources by global cloud players that has led to several stalled DC land deals in the first half of 2025 (1H25)," it said. Examples of these include SP Setia's 307-acre Tanjung Kupang land, UEM Sunrise Bhd's MOU with Logos Infrastructure Holdco (74 acres), IOI Properties Group's Kulai and Banting sites (180 acres), and Mah Sing's tie-up with Bridge Data Centre in SouthVille City. Of these, only Mah Sing has reported healthy date centre-related enquiries, likely driven by hyperscalers due to its infra-ready status. The sector's 12-month forward P/B ratio has risen to 0.85 times, up from 0.8 times in June but still below January's recent high of 1.0 times. Johor launch pipeline picks up pace Developers are ramping up launches near the RTS station in Bukit Chagar to capture cross-border commuter demand. Sunway will unveil its SOHO units at Sunway Majestic at RM800 psf in July, while Mah Sing plans to launch its premium serviced apartments, M Grand Minori, in August. Other projects in the pipeline include Eco Botanic 3 by Eco World (1Q26) and UEM Sunrise's Estuari Greens and Estuari ParkHomes (4Q25). UOB Kay Hian expects the uptick in launches in 2H25 to be well absorbed by resilient, less speculative demand, supported by tangible infrastructure progress and robust cross-border connectivity under the JS-SEZ framework. Affordable housing should remain resilient, supported by rising first-time buyer numbers and higher minimum wages. Developers such as Mah Sing (52 per cent of projects below RM500,000; 37 per cent in the RM500,000–700,000 range), Matrix Concepts (60 per cent below RM600,000), Lagenda Properties (majority priced between RM200,000 and RM300,000), and Eco World's "duduk" series are well positioned to meet this demand. Investor sentiment toward higher-yield residential units is also improving, particularly for well-located TODs. Projects like E&O's The Conlay and SWNK Houze @ BBCC – both offering direct MRT/LRT access – have started to attract fresh foreign interest. Residential loan applications rose 2.5 per cent month-on-month in May 2025, though they remain flat year-on-year due to a high base in 2024. Non-residential loan applications fell sequentially in May (-5.1 per cent m-o-m; +2.5 per cent y-o-y), but cumulative growth for the first five months of 2025 stood at a healthy 6.7 per cent y-o-y. The firm said given the elevated base in 2024, it expects limited growth in residential loan applications this year. "Looking ahead, we expect 2025 loan applications growth to be driven by non-residential segments, supported by ongoing industrial activity and FDI inflows, while residential applications are likely to remain flattish due to a high-base effect," the firm said. For 2025, UOB Kay Hian forecasts sector earnings to grow 7.4 per cent year-on-year, on the back of a 10.3 per cent revenue increase, excluding companies with differing financial year-ends. Margins are expected to normalise from record land sale gains in 2024, particularly for SP Setia and UEM Sunrise, while Lagenda Properties may see some margin compression as its new townships move into early construction phases. Malaysia recorded RM89.8 billion in approved investments in 1Q25, with Johor leading at RM30.1 billion – 67 per cent of which came from foreign sources, mainly Singapore, the US, and China. The research house remains constructive on the sector's 2H25 outlook, supported by lower rates, resilient industrial demand, and ongoing infrastructure progress from Penang to Johor that is expected to further boost TOD opportunities.
