Updates in divestment, stripping, reduction, or closure of investment projects
Update (Divestment)
BYD, the world's leading electric vehicle (EV) manufacturer and Tesla's main competitor, has reportedly slowed down its plans to build a factory in Vietnam. This news comes despite an earlier announcement from the Vietnamese government in May 2023. Strategic Shift and Market Realities The decision to
Update (Divestment)
Sanyo Chemical Industry Co., Ltd. (Sanyo Chemical) has announced its decision to withdraw from the superabsorbent polymer (SAP) business, a major component in disposable diapers and other hygiene products. This move marks a significant shift in the company's strategic direction as it seeks to enhance profitability and align
Update (Divestment)
According to Reuters, Swiss bank UBS is reducing its presence in China's private funds market, shutting down a significant portion of its existing funds and laying off staff. The move comes amid cost pressures, fierce competition, and sluggish returns in the Chinese market. * Fund Closures and Staff Reductions:
Update (Divestment)
Sumitomo Chemical has announced that it has agreed to sell its two Chinese flat panel display (FPD) process chemical subsidiaries, Sumitomo Chemical Electronic Materials (Hefei) Co., Ltd. and Sumitomo Chemical Electronic Materials (Chongqing) Co., Ltd., to Zhenjiang Runjing High Purity Chemical Technology Co., Ltd. (Runjing Technology). The sale is part
Update (Divestment)
According to UDN News, Innolux, a leading provider of LCD panels and touch solutions headquartered in Taiwan, will close its Nanjing module factory and transfer its equipment to its Ningbo factory. The company is laying off employees in batches, affecting about 2,395 people. These employees will be provided with
Update (Divestment)
The Central Bank of Kenya (CBK) announced on 5 April 2024 that the Bank of Kigali (BoK) Representative Office in Kenya will close effective 2 April 2024. This closure comes as BoK's parent company, Bank of Kigali Group Plc, has made a strategic decision to prioritize digital service
Update (Divestment)
HSBC Holdings plc (HSBC) announced that it has entered into a definitive agreement to sell its banking operations in Argentina to Grupo Financiero Galicia, the largest private financial group in Argentina. The deal: * Value: US$550 million, subject to adjustments. * Completion: Expected within the next 12 months. Financial impact for
Update (Divestment)
Levi Strauss & Co., the renowned American jeans manufacturer, has declared the shutdown of its historic clothing factory in Płock, Poland. This factory, a pillar of the local economy since 1991, is set to halt production by mid-June, leaving 650 employees in the lurch. The company attributed the closure to
Update (Divestment)
On 30 March 2023, Moderna announced it had finalized an agreement with the Government of Kenya to establish an mRNA manufacturing facility in the country. One year later on 11 April 2024, Moderna announced a temporary halt on building an mRNA vaccine manufacturing facility in Kenya. This decision comes after