Companies have already announced US$26 billion of transactions to be taken private by a related party this year, up about 2,500 per cent from the same period in 2019, according to data compiled by Bloomberg.

Asia’s third-largest equity bourse is trading at the third-lowest valuation across the region’s 14 markets, weighed down by a recession mired in the coronavirus pandemic and almost a year of anti-government protests, creating the perfect conditions for more take-private proposals.

Hong Kong’s Fung family and Singapore’s GLP Group have made a HK$7.2 billion offer to privatise 114-year-old global merchandise supply chain manager Li & Fung at a price premium of 150 per cent.

Increasing clarity about the relationship between the US and China in light of a phase one deal should help foster global trade this year, Li & Fung chairman says.

The honorary chairman of Li & Fung has won the Lifetime Achievement Award at this year’s DHL-SCMP Hong Kong Business Awards for his devotion to tackling global challenges

The century-old Hong Kong company, founded by Fung’s grandfather Fung Pak-liu, was a beneficiary of China’s rapid rise as the world’s factory, supply global consumers with everything from clothing and apparels to shoes, toys and furniture. Its earnings slump is emblematic of the city’s economic position has come under challenge by the year-long US-China trade war.

Spencer Fung, CEO of the 113-year-old Hong Kong company, says the supply chain shift away from China is benefiting countries like Vietnam, Bangladesh, Indonesia and India.

Hong Kong giant reported a 20 per cent year on year decline in core operating profit to US$285 million, but above consensus estimate of US$270 million

Toys ‘R’ Us Asia, which completed its separation from its indebted former US parent firm in November, plans to open 60 new stores in Asia in 2019. Most of these will be in China, its biggest growth market, as well as in Japan, Malaysia and Singapore.

Global Brands Group, the licensee of Juicy Couture and Calvin Klein, has cut its overall production in China from 60 per cent to 39 per cent, says CEO Rick Darling

Global Brands Group said the asset disposal is aimed at reducing debt largely left over from its 2014 spin-off

Investors should be sceptical of any company that heavily depends on a strategy driven by acquisitions and restructuring, but Li & Fung's appetite for deal-making, which chief executive Bruce Rockowitz claims offers "huge synergies", is looking less credible by the year.

Options traders are turning bullish on Li & Fung, a supplier to Wal-Mart Stores, betting on a revival of its American operations after the stock lost 61 per cent of its value.

A fire yesterday destroyed a Bangladesh garment factory supplying Hong Kong-based Li and Fung and some big Western brands. The blaze was started by workers angered by rumours police had shot dead a colleague.

Some of the top investment bankers in Hong Kong have chosen to leave a high-flying career in the financial industry and return to more traditional businesses, such as real estate and trade, fuelling doubts about the attractiveness of investment banking jobs in the future.

Global trader Li & Fung has yet to deliver the strong turnaround that its management pledged this year, but the group's senior executives said core profit in the second half could jump as much as three times that of the first half.